Would you make an offer on this property based on these projected returns?

Yes there will be surround & trim/ etc finishing required, but it's nothing special or extra challenging.get a few other bids before you decide replacement is "too expensive"  - nothing especially challenging about the surround/walls, trim, tile, finishing, or nearby side walls etc getting done at the same time as a tub.

On the wholesaling side the same thing.

Not all lenders offer HELOCs on investment property but you can find the ones that do by calling around.

For the house to be vacant for almost a year, I think she must not be well or be under some kind of stress, so I feel like by coming in and offering the right kind of deal, I would be benefitting her and myself at the same time.How would you guys approach this situation?

For the purchase of the new property, you can consider a seller carry offer (balance of purchase price minus the down payment) or obtain a new mortgage on the commercial/resort. 

If that happens, put it on your side of the property line and do whatever you want. 

I've been converting unique buildings for quite awhile, very much as a side hustle, until recently.

I grew up on the east side of the town with a well versed knowledge of the neighborhood. 

I'm under contract on a homepath property and need to add llc due to being a domestic violence, they are telling me I cannot because it's not considered a real person,I have to cancel the contract and resubmit an offer as an investor, risking losing my dream home.