I buy the property typically from surplus and then turn around and sell it to the owner for double what I paid via quit claim deed.

Mine's over 800 and I couldn't care less.I agree the requirements to get a fannie loan are complete crap.  

I just heard the same claim from a professional I hired (who happens to only do spot-treatment).   

They claimed one thing, but actually delivered another.  

For the tankless system that I would need (I want an outdoor unit in order to re-claim as much closet space as possible inside) I have received 4 bids ranging from just a hair over 2k all the way to 3.5k.  

A real estate friend of mine told me if I was not completely embarrassed by how low my offer was I was offering too much. 

In the end, we’ll have a completely updated property.

The project will require full interior completion and some exterior work as well.

But in reality, the price you paid for the property is completely meaningless and irrelevant (except for tax purposes, which are minor in this case).

The good news is that you're only 45 minutes down the road so you can keep an eye on it throughout this process but you absolutely need to get this project completed ASAP.