Purchase price: $35,000 Cash invested: $38,000 Another flip ready in the market. https://www.zillow.com/homedetails/4467-Sims-St-Columbus-GA-31907/76572533_zpid/

With that kind of equity you would be to find a newer, nicely performing Quad in a market that is appreciating. 

Note at “standard” MLS market rent to price ratio, the property tax alone is ~20%.

(You may need some time to figure out the market and where you want to live there.

I am looking at possibly investing there again as the Atlanta market is saturated.

These cities are the well known, sub 100k markets in the US.

And I have had two potential opportunities "fall into my lap" that involve inherited properties that need major remodels to be able to compete in the MTR market. 

Like any investment, due diligence on the market, asset, financing, and sponsor is critical, and working with an advisor to vet these options is worthwhile.I’ve recently helped several investors transition into 721 UpREITs as a gradual tax-deferred exit from direct ownership.

Educate yourself on how to handle marketing, screening, late rent, lease violations, etc.

I am not sure if I should stay local to my market.