I am definitely intrigued by the approach, and would certainly run an additional campaign to try it. 

And other investors are often scared of properties with major issues, so even other investors are often not competition for the properties in really bad condition.In other words, most cosmetic repairs don't pay for themselves in value added to the property; but, other types of repairs (structural, additions, basement finishing, etc) can often more than pay for themselves because there is little competition and the investor can pick up the property for a great price.2.

However, it depends where you both are on your risk-tolerance for taking on additional debts while you have student loans that have to be paid no matter what.

Lease states:"In the event that any payment required to be paid by Tenant hereunder is not paid within Five (5) days of when due, Tenant shall pay to Landlord, in addition to such payment or other charges due hereunder, a "late fee" in the amount of $50 and $15 a day for each additional day that rent is unpaid.

Ask them not to use it, advise them not to use it, charge an additional deposit for using it, somehow disable it, or get it inspected, install the glass front, and hope for the best???

In addition, where I live the temp drops at night due to proximity with ocean (especially when not humid).  

Many will tell you more about it than you would ever imagine.Getting additional info from the owner is helpful but getting it from the tenants is almost always more enlightening (and truthful).

-Once my business can no longer grow without additional time commitment from me. 

If you simply mean it is an traditional residential investment loan, no harm no foul.

Of course this would depend on what we could get it for.This auction requires 3% down to bid, and then requiresan additional 7% (so total 10% of final purchase amount) within 10 days of the auction.