If you feel like you have a strong argument, you might as well try it's the way I look at it.

For an OOS investor, I would recommend looking at Kansas City as one of my CFO clients also manages 100+ doors for OOS investors and knows the market very well.

If you are located really well, the monthly is a bit low unless this is net. 

STRs need to be viewed from a 365 day lens so if the numbers work well then, you still can be successful.

@Chris Faye i'd like to hear more as well 

You state there's a lot of deferred maintenance, then state it is a remarkably well maintained property.

If you do want to move forward with this property, one recommendation I would get is to find a local contractor with experience that you trust and have him advice you on the scope of work that may need to be done as well as the cost it would take.

There are many who will argue my methods and that's fine, it's worked very well for me and has been extremely rewarding in ways that cannot be compensated monetarily. 

You will get some of these as well (This inquiry was for one of my 1500 SF 2 Bed + home office units)..... but by no means does this investment strategy warrant paying for a course.

Quote from @Yaroslav Shtogun: Good morning,Some updates, we did home inspection and the house is not good condition since it was built in 1950 and was not maintained well.