Don't disturb the asbestos materials and make sure everyone wears OSHA approved gear, but fortunately it's just asbestos, not ebola.  

I’ve seen lots of properties listed that were mid renovation, with all the materials to finish included in the sale...suggesting  that the seller ran out of time or money and was forced to liquidate.Best of luck to you.

Be safe and don't work ahead of your competence levelIf you know what it would cost you to buy material to do something and you know what it would take you time wise, you can work backwards into a contractor's bid and figure out the equivalent hourly rate you are paying, which is a great place to start working a bid down.

Like every other quote we got, they requested 25% down to order the material.

  $2200 is not alot of money for what you described, heck around me, painting with materials a 700ft2 house would be almost $2200 alone.

Material only?  

A really cheap property that needs a lot of rehab has to be managed.You also need experience rehabbing,Material shopping, permits, managing sub contractors, order of operations, managing payments, checking work, and accurately projecting all of those numbers in the first place to make sure you get a good deal.Best bet is to buy more of a turn key rental for your first purchase.

let’s say approximately $20,000 of labor and materials to get the property in livable condition.

While there I saw that they have boot camp and lots of material to get a grasp on this subject.

I don't have a lot of money for marketing materials but what I lack in funds I can make up for in effort.