Figuring long distance Rehab Cost Estimate

[Julie Fullmer]

I have a property that I am interested in buying to rehab. Across the world. Built in 1920, 3/1 basement it is in rough condition but I am not sure how rough. The bank is asking $39,900 there is a large yard. Some kind of out building. What is the order of operation when doing distance deals? Will they allow a house inspection and contractors to bid work? How long do I have to get the cash together? 

I have done all this in the past as a home owner but first distance/investor deal. 

Thank you for your advice! 

Julie