The place was total chaos, I couldn't barely see the floors with the amount of clutter and clothing everywhere.

A small rock stuck in a shoe, pet claws (just from walking), and any kind of rivets/zippers/buttons from clothes pressed into the floor can damage it easily.

I'm sure next I would have gotten a frantic email demanding that I buy new clothes and/or provide Wal-Mart gift cards for tenants because I failed to provide a washer and dryer.

The Purchase:Purchase Price: $224,900Loan: 25% down ($56,225), 5% interest, 5 year term, 20 year amortizationClosing Costs: $6,150 (received $5000 sellers assist)Repairs Budget: $15,000Total Cash Invested: $77,375The Income:Gross Rents: $4,500 (estimated after repairs and full occupancy)The Expenses:Property Taxes: $500Management (10%): $450Insurance: $225Natural Gas (both clothes dryers are gas and surprisingly they're the only things running on it): $40Vacancy (5%): $225CapEx & Vacancy: $405 (estimated, don't ask why I have $5 at the end instead of an even number..I'm going off my previous work so who knows what I was thinking at that time)Electric (common areas): $100Water & Sewer: $375 (there is a very small water bill to me as each unit is separately metered.

I've been known to clean my chandeliers with windex spray and a cloth....while the lamps are on.  

The only thing they need to bring is clothes and groceries.

Then schedule a meeting and check it out and take a gazillion pics of everything, the floors the windows the ceiling, , do not forget to check out with a flashlight the ceiling directly beneath the tub and showers, go to the basement if there is one and sniff for mold or damp smells,  check out everything and then you estimate the repairs costs.

To flesh out your decision a bit more, you might want to think about this in a little more depth.Go into both areas from 10 am to well past dark and drive the areas.Visit the grocery stores and fast foods, a few times each day and see what you think of the areas population.Talk to some shop owners in the area and get their view on the locals.Because these are the people who will be your renters.Do the look like they can pay the rent, (decent vehicles, decent clothing) or does the people look like they are struggling.Think about if this is this an area you want to do business in -->(long term)<--?

It was 23 year old wood (in the great damp pacific northwest) and the top rails are rotting.

If I were giving advice for here, I'd say look for the one with a Starbucks or equivalent, a health food store and vegetarian restaurant, a boutique selling clothes with weird fashions, and anything artsy.