Currently I am still taking the standard deduction.I will then look at the various transfer methods mentioned.I think she owes around $140k. 

They may have abandoned the electrical before installing the water. 

The most common expensive things are water damage from washing machine hose breaks and leaks, facets that fail, clogged toilets flooding, sinks backing up and things like that.

With time being my biggest asset as a college student, I'm taking advantage of the surplus I get at home rather than juggling football and remaining in great academic standards that comes with College. 

It's also known as an acceleration clause and it's the standard since 1988.  

How old is the furnace, water heater and roof?

@James Heacock Here are the key things to look for in a turn key company and what to avoid.If you're going to go the turn key route, in general, the ones to avoid are the ones that: Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)Don't allow for your own independent property inspectionAre not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors)Require you to pay for any renovation upfrontSell only in cheap. low end neighborhoodsDon't accurately represent the neighborhood/property classificationDon't have consistent rehab standards for all propertiesDon't provide a scope of work for the propertyCan't provide references of repeat investorsRequire you to close before a tenant is in place

Water, Electricity, LLC formed, Title work, Insurance, final walk through at 5 today ect.

You can get water /sewer charges from the town in most cases.

@Bonnie Donahue I think a basic LLC is as much of a "standard" as any for most situations.