Considering the owner is currently distressed (not wanting to spend more to fix it up for listing on the MLS), I may be able to make it work at a reasonable price point.

You'll have all amortization options, but the most common will be 30 year fixed and that's generally the recommended one. 

Hi Jonathan- We are also in Greensboro doing property management; fix and flips; STR and Mid Term Rental management; assisting local investors with finding, purchasing or selling investment properties, etc. 

In a few years, after i've raised rents and finished fixing up my properties, i'll be making $70k from my rentals.

That should fix that issue and just keep on them to get them to stop eventually. 

Always fix all water issues first before moving on to doing major repairs of a structural  nature.  

Where as, another home (2 bedrooms) I helped with in the SW section, right by the Timken factory, was purchased for $12,000 and after about $2,000 in fixes and updates is being rented for $650. 

I believe the upside value is $400K once fixed up. 

Thank you all for your inputs and help...I'm a wholesaler and do fix and flip as well as rental so I'm familiar with doing my due diligence...

I have a 2.9 fixed rate.