Hi BP,A SFR was originally appraised, but the appraiser did not give 'credit" for the basement since there was no egress window.

Seems like a solid plan...however...we are 29 days into the 60 day window and it is not happening.My Dad is running into issues with all the local, small banks and title companies being scared off of the Quit Claim Deed (and the IRS).  

The home (both sides) were gutted with electric, plumbing, windows, installation, drywall and kitchen remodels in 2009-2011.

Elevation reports are one component of the foundation, it is equally (I would argue more) important to diagnosis and analyze the functionality and fit of doors, windows, trim, and finishes to determine if and where the foundation has moved.  

New plumbing, new bathrooms, flooring, tree removal, new porch and columns, paint, impact windows, the list goes on and on. 

Open all doors and windows and provide masks at the inspection. 

Do doors open and shut, windows same thing.  

As others have mentioned your biggest concern should be if you budgeted enough money to finish it and if you have the market sell it in your allotted time window.

My friend just got a couple of properties at auction and one was homesteaded which will be a two year window for the redemption period with the property value at almost a million dollars. 

A decent amount of damage is nothing to be afraid of.. after all if it's a good deal and hasn't been flipped, doing a solid make ready when tenants move out is to be expected.. but you just want to make sure the property isn't at a point that exceeds what you'd expect to do to make it "make ready" if you've got excessively damaged floors, holes in walls, doors off the hinges, broken windows.. that doesn't mean it's not a deal, but it does mean you might want to negotiate the seller taking care of those cosmetic items when normally you'd only ask for mechanical.