in my experience the biggest defect that happens post-construction is water intrusion from rain,snow, or groudwater.

It does not look like a good deal to wholesale - here's why:Average ARV is $440,00070% of that is $308,000subtract the average $8,000 needed in for kitchen repairs and the number is $300,000This tells me you'll have to buy the house for around $300,000 if you wanted to wholesale it the traditional way.Since the $300,000 is a lot less than the $395,000 it's listed for you're probably gonna have a hard time bringing down the price by around 25%

It looks to be inhabited though because the snow was cleared from the sidewalk to the front door.Heavily leaning towards leaving this deal go.

We did all management ourselves at all hours of the night and got up at 5:30 am to shovel snow.

It sounds like your parents went the traditional route of investing.

Chris Hensley, I would totally agree - replace -Heck, this midwest - snow...snow...snow is definitely coming"But this is in Wisconsin, and winter is coming in just 3-4 months.

Your income and cash on hand will be your most limiting factors with traditional or portfolio loans.  

It varies from state to state, but in my experience it must have a traditional closet to be considered a bedroom

Certain things are very easy to pool together, such as landscaping and snow removal.  

Most likely cheaper to convert office space rather than rebuilding .At the same time there is the trend of less people working in traditional offices .