@Cameron Porter ultimately the most important part is the ARV, inclusive of the expected rehab costs.

So if I do a good analysis of the property (including all the costs) and the property generates monthly CF with a DSCR above 1.1, I would be removing a big risk because the numbers add up.

The leads I'm getting for potential tenants are not the best.

Because of cost, duplexes are are a better choice and compete well with SFH and or apartments. 4.  

Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.Do you see the problem with your two statements:"The turnover costs could/will be high"and"How much more damage could they do?"

The catch was that it would cost me $7k.

Run the comps, calculate repair costs, and plan multiple exit strategies so you maximize every deal—whether that’s wholesaling, flipping, or holding for cash flow.

Partner Driven saw the Brimerage Rd property as a straightforward opportunity with strong potential for a quick flip.

Second thing would be to work with a contractor, this is great stuff to do since you know building a house, building material costs, and knowledge of right and wrong what to do. 

I'm looking at monthly cost to seller vs. anticipated rental income, purchase price relevant to the ARV of the area and interest rate, balloon, etc.