Quote from @James McGovern: Anyone have tips to convince an evicted tenant to pay their water and other bills after they have departed? 

“He that waters others will himself be freely watered and the generous soul will be made fat.”🤔 “He that waters others will himself be freely watered and the generous soul will be made fat.”You weren't offering to "water others", you are asking to be watered.

It looks to me like, prompted or not, a lot of cheerleaders showed up to encourage the OP to dive on in, the water is fine.

Long as you are not moving walls and no foundation concerns other renovation items are more straightforward (roof, hvac, water heater, paint, flooring and etc) but still get a 2-3 bids to better understand the cost to do the repairs.

We found a home I loved, it was $385k 4 bed 3 bath and it needed a lot of work (signs of water damage or mold in a bathroom, blue carpets, all bathrooms needing updating).

I don't see it working.Managing STRs is a lot of faucets to turn on for a little bit of water.

Quote from @Mike Grudzien: Basically, you need to walk on water and have experience doing that....  :-) They are doable lol, but I always prep clients that it is not going to be fun for either of us, and I have done enough of them to know which ones are possible and which ones are near impossible. 

Average utilities here is about $300 monthly for water electric and gass. 

The land will be zoned residential and will potentially has access to water, sewer and probably electricity (not necessarily) It's in a good location.

"Has water to it" but no electrical from the grid.