If you rely on minimal debt and paying off properties quickly:Pay less and enjoy more cash flow. 

If you do buy it, try to convert the units to shared housing if you can as they come vacant....it will maximize your rental income and minimize costs & vacancy.

Since I can do this work myself, its not the end of the world, just an expense and delay I could have done without.

Anything that is of immediate safety concern should be handled immediately; you should not delay.

if the realtor knows all your offer details, it shouldn't take more than a half hour if it is done electronically, or more than an hour by hand (provided you don't have minimal amendments)

That might be part of the delay.

After 30 days of excuses why contractor can’t start, no clear schedule, minimal communication and ultimately minimal results, I fired him.

I have recently found ways through networking that profits 500-600+ per month with very minimal start up costs (100 bucks).

If house won't need anything for at least a few years, and the neighborhood isn't too bad, and your market doesn't have anything better, then it may be MINIMALLY acceptable.

Loans are subject to minimal loan amounts.