The seller has nothing to lose.  

I'm just wondering how timly that could be, and depending on how spread out the Homes could be one could easily wear a contractor out easily if looking ends up exceeding building.

If you don't - then the process drags out even further.I wish there were another option - but leaving it to people's best interests is a pretty good recipe to lose rent for more than a few months.Good luck with the issue.

In my opinion it's not worth the risk of losing your shirt by not knowing the actual numbers.ARV - Repairs Formula:  $200k (arv) - $75k (repairs) - $20k (carrying) - $40k (profit) = $65k (67.5% off)% Off ARV Formula : $200k (arv) * 50% off = $100k (You would lose your shirt)

I don't really want to lose more money on property.

Cutting corners is easily recognized and never helps because you cannot prevent what is being said. 

Customers who find value in my service are happy customers and I don't lose a lot of time over haggling.

. $250k - $500k tax-free money is nice, but losing almost $50k just to sell the house may not make financial sense.Cash-out refinance or obtain a HELOC on the property prior to renting it out might be a good idea, but it seems kind of late now.

My only hesitation is that, here in Michigan, I have to work under a broker for three years before I can be a broker myself (losing valuable investing time).

Mistakes will be made, but you'll lose more money sitting at your computer just reading about real estate every day and not going out there and doing the damn thing!