However, one recent sale in the area was 109K for a .15 acre lot, however, it was verified developable and had gas, electric, and water at the street.

Insulate, add electrical, mini-split ac, and possibly plumbing, as desired, drywall, tape and paint, put built-in cab's on one side if you want, hang the tv, speakers, etc, install bi-fold/multi-fold doors on the side leading to a patio, and replace the garage door with an insulated one keeping the track and removing the motor, or install a carriage type garage door into the existing garage opening.

4 individual water and electric meters.The point about individual townhomes and sprinklers.

AC, electricity, no plumbing.

During this time, inspect any agreed repairs, inspect all appliances, check whether all doors and windows are secured, working properly, or to your satisfaction, belongings of the seller are completely removed, check for signs of mold, check electricity and outlets, and inspect the exterior & backyard.

Note: the $1423 amount includes owner paying for electric, gas & water.

It is required to have a building permit/inspection and hire licensed professionals for Electrical, Mechanical, Plumbing, and structural engineering for load bearing, gas line work, and septic systems. 

Any other possitive factors  - stable tenant base  - alarm systems  - regular checks on the property  - no pets  - Lead safe certification  - newer roof, plumbing, electric, etc..Anything to balance off the lossesBe prepared that it may end up in a non-standard (surplus lines) market for a couple of years.If you did not have flood coverage before, see if they will continue the current policy if you get Flood coverage and increase the property coverage deductible. 

She has so much stuff stacked against the radiators that the heat can't circulate, which is why she has electric space heaters everywhere.

This is tedious, cumbersome and annoying, but a better use of time and energy then analyzing a property, seeing it, speaking with the listing broker or getting a pre qualification.