I barely was able to arrange to get the carpet cleaned in time!

Purchase price: $47,000 Cash invested: $47,697 3 Bedroom 1 Bath 1088 square foot Single Family Home Clean and Neat home with newer roof, new paint, bathroom, new kitchen floor and hardwood under new carpet.

Carpet will last 5-8 years @  $7 a sqft. 1000sf=$7000.

A single puppy can dig a few holes, chew on some window trim, scratch a few doors, and dig up the carpet at the threshold of a bedroom door in a month and cost you $500 or more in repairs.Increasing the rent is better than a deposit.

@Joe FunariLiving room carpeting .

The repairs budget $39.00/month may help make up for that but you'll want to factor in for turnover too (carpet, paint, misc minor repairs etc).

Are the walls and carpet clean?

I just bought a place for $40,000 that needed nothing and a $30,000 property thats just needs fresh carpet. 

To really get the best value I would recommend looking for a house that is already "livable" and will not cause you any issues with financing, but has some outdated fixtures and finishes (picture something like a little old lady's house, with green carpeting from the 1970s and old but functional fixtures throughout).

It took them five months to figure out how to properly mail rent to me on time (they've encountered many late fees) and even to this day they pay on the last day humanly possible, but also they leave belongings outside in common space, they leave trash bags outside the trash cans and rodents get into it and tear it apart, they leave a bunch of random belongings and bikes in the foyer (on carpet) and they have filled the basement with what seems like trash.