After you answered those questions I would let you know if I could help you with your investment needs.I was shocked after reading your comment, "I don't have the contacts or resources to find properties at 50% off locally, so everything I see is on the MLS."

@Trevor Dominique I know it feels like sticker shock, but you’re adding an asset.

I would be completely shocked if the Census web site did not have an FAQ about discerning scams from real inquiries.I'm not sure if this is a scam or not, but if it were me I would ignore this and all similar communication. 

I would be absolutely shocked if it did not cost at least $100k to renovate this property.

Sounds like she wants more of a Hoboken/Jersey City/Manhattan kind of location, and especially if you need livable during renovation for your sister and a roommate...it'll really unlikely be under $200,000 even now, and unfortunately, I'd be shocked if you found something 3+ bedrooms that met all of your requirements and that you could fix up and be all in for under $200,000.

I was so shocked this was actually working out I bailed on the endeavor and referred them to an agent I knew.

I will do a preliminary one with the tenant so they know what items they will be expected to thoroughly clean such as oven, refrigerator, window sills, ceiling fans, etc.

Not sure what other points the ladies and gentlemen in the chat have already touched on, but globalization is not limited to just nation trading, but it effects market prices in micro-economy of coaching as well - there is a wealth of preliminary knowledge here, and on other sites, but I wouldn't discredit a mentor too quickly.That being said, as my initial statement was alluding to, the supply and demand of the real-estate mentor market has become pretty tame, and I believe you may be able to find mentors of similar value (I dont want to say "surely" because I do not know the person you are referring to at 12k) at much lower price points such as 1-2k.

I am shocked if they make it out of a turnover unscathed.

I was shocked by how cheap those properties were (lakefront) around Lake Conway.