Let me know y'all thoughts.

If you are looking to house hack especially with a property needing an extensive rehab that is not "habitable", you might want to look into hard money options, with the thought to refinance as soon as the rehab has completed. 

I am currently in the discovery phase to prepare myself for our first deal.

Feel free to share your experience and thoughts and examples and love to hear your tips and recommendations.Johnson

I thought what if I made an offer of $15k on the $29k house and it got accepted.

The first Is if you do any type of partnerships make sure you have a FORMAL agreement drawn up with at least one well thought out exit strategy.

@James Carlson You probably already know my thoughts on STRs vis a vis 'affordable housing' :-)But this is going to play out as it will, and ultimately even Gov't intervention/restriction will fall to the power of the free market, so we'll see how it goes.I wish the property owners and entrepreneurs well, although some of them will learn that 'elections have consequences' as 44 so famously said.

If I were to redact the first sentence of your post, most readers would assume you are preparing for litigation with a healthy amount of discovery.

Sorry the long winded first post, I look forward to reading some of your all's thoughts on my situation. 

They knew the condition when we purchased, but thought Land A would sell faster because we had done so much work to it and were selling it so cheap.