I haven't had to watch my net worth on paper be cut in half.  

If you're right on the edge for qualifying, maybe be careful, but otherwise apply away and get the best terms/rate from the strongest bank.

The issue with this home is it has been winterized for 3 years and copper pipes have been cut (rumored to be the result of a messy divorce).

@Curtis Deckard Just cut ties and change the locks when she moves out.  

It is MUCH easier to find a great deal, and learn the business hands on in your local market, where you can cut out many of the middle men and maintain control over your investments.

My only other suggestion is to find out when the utilities where cut off?  

I've been to those free seminars and it's good to get the basic knowledge but you should cut if off there.

The other idea was to hire a foreman with a contracting license that can get the job done without the GC markup cutting into the profit margin.Any suggestions, referrals, and advice is highly appreciated

You will need closer to $10k before it is all said and done unless you cut corners which could jeopardize your interest in the property or create additional costs, regulatory concerns and issues with bring the REO to market.  

They seem to always quote it in $/square foot and it's an annual figure so for example  lower end retail in my area goes for about $10/foot.For the improvement costs (TI, tenant improvements) you can negotiate that with potential tenants but I would again use a short-cut $/square foot or you could do a specific list.