I would look for a restoration service like Servpro that specializes in fire/water damage, as compared to a contractor.

Can I find someone else to bring money to the table so the first person can put a down payment on the other house then we all three keep ownership of the old house and use it as a rental?

I was browsing the web looking for different deals and yada yada yada i see this advertisement for a 2 day special auction where 150 sandy damaged homes and lots will be auctioned and 24 with water views and 70 with actuall water frontage bulkhead etc... the cheaper ones had pre storm values 220k-550k and starting bid under 100k but not on the waterthe waterfront homes with that start under 100k are all scheduled for demolition HOWEVER there are a few starting 110k-240k with pre storm values of 450k- 1.2million...So they had the brochure for free on the line but make you purchase a information package with all the due diligence from title reports to sales agreement for the properties...So personally i will not consider a property scheduled for demolition.....

We later found that the cement was originally mixed with salt water & hence the issue.

There is a house that I see a listing for that seems to have a massive amount of Mold and water damage in the finished basement which includes a bathroom.

Once you know what you really want...why you want it, and are honest about your strengths, and what you can bring to the table, it will be easier to see which is the best path for you.  

Water and power average $100 a month total.  

I think one of the best adventures of the city is the White water rafting center.  

This is element #1 of my strategy - leverage an existing track record.During our call, I pitched him on me bringing my skills (general business management and marketing/advertising) to the table in exchange for the opportunity to use them - i.e. he would enable me with his skill set and I would help him to scale, using his track record as a springboard to craft a win/win situation.

I owned 3 duplexes across from Zeiger elementary (owned them while they were building the school, cutting down trees and raising the water table so our furnaces under the buildings burned out!)