In addition, if you have no ability to control, manage and otherwise deal with your real estate, it is likely you have a security interest rather than a piece of real estate.

No one wants a piece of junk to live in, and you win in the end if you do it just a little bit nicer :-) If you use $150 - $200 SF for a total reno, you'll be close.

You are 1.5 hours from one of THE hottest markets in the country. 

Southwest is the hottest/newest area and is up & coming.

If it's in the utility room in a finished basement, I would change it for piece of mind.

I think a critical element that I'm currently knee deep in trying to figure out for myself is making that key connection that can be your window into the process first hand, and offering a piece of the deal in exchange for that one on one support is a fantastic idea.

Adjuster wanted to repair only a few pieces on one side - said the side of the house didn't have enough damage to warrant replacement.

I know a person who wanted a piece of raw land to pay for a child's college, and was surprised and angry that it took over a year to sell raw land in the country.

@Tim Hershberger - I think what your lender is missing an important piece to the puzzle. 

A smart phone and a piece of posterboard helps.