Did the pest control person seem to indicate an infestation? 

The builders website has indication that they have down affordable housing with the state before so that is hopefully good news from a code front. 

you have an experienced team... he does not =) Just because there low priced does not always indicate the prop needs a big reno.

I've done some research into the market potential for renting out the property and it seems we could expect to fetch between $1,000 - $1,100 per month in rent, which is promising.Regarding the property's sale value, comps in the area indicate a range between $220,000 - $260,000.

Im actually just finishing up on an ADU down the road at a different property so that may be a good indication if I can finish it quick enough to see resultsI also was thinking of making the barn a combination of both and make it like a bar themed loft for a guys / bachelor trip and build the simulator in with the living room as it can double as a projector type screen for netflix ect. 

Utilities for most recent 12 months (this & the lease will indicate who is paying those bills)3.

The Key Growth Indicator: A significant uptick in SFH building permits during 2022 and 2023 screams a burgeoning market ripe for investment.Property Highlight: Zooming into the zipcode of 44134, let's take a look at a promising investment in a SFH I found.3104 Liggett Dr, Parma, OH 44134  On this property, I calculate an ARV estimated between $107,000 and $115,000. 

That may sound pretty good...until you discover that their net worth is decreasing at a rate of $2 million per year, and they've got $100 mil of adjustable rate debt on a portfolio of D class properties that forces them to work 80+ hours per week just to keep the whole thing afloat...Investor B tells you "my net worth is $1 mil" --to many successful investors, that sounds like a relatively insignificant net worth...but, investor B owns a portfolio of A class properties with zero debt, professionally managed, their cashflow is $500k per year, their net worth is increasing at a rate of $1 mil per year, and they only have to work about 1-2 hours per week to keep their machine going.Personally, I'd MUCH rather be investor B than investor A, even though investor A's net worth is 10x of investor B's.So yeah, tracking net worth is advisable, but it's only a small part of what an investor should be tracking and modeling, and net worth alone might not be very indicative of an investor's success.

If the cost is high and you're not getting sufficient ROI, it might not be worth the additional debt or investment.Tenant Considerations: Frequent repairs and maintenance requests from your tenant indicate that the property might be challenging to maintain.

@Jared Van Horn - As everyone indicated, it seems like these properties are negatively cash flowing and it has a hard money loan on there hence I would sell them and repurpose the equity into a cash flowing asset.