On top of that, the water pipes are on the ground, which is not allowed; they should be run inside the walls.

An auto body shop across the street that "stores" cars needing work there.Since abandoning the home, major landscaping would also be needed to clean up the walkway to the water.

Purchase price: $465,000 Cash invested: $80,000 Checkout my Airbnb here: airbnb.com/h/madeirabeachoasisSalt Water Pool & Hot Tub: $60,000Tiki bar with electrical hookup: $3,500Mural: $1600Interior Furnishings: $6,500Exterior Furnishings: $1,500Monthly gross booking revenue: $8,000-$12,000

I agree with Nathan (don't forget to price running extra water, sewer and electrical lines).  

BiggerPockets has some pro tools that let you see rent to price ratios and other cool stats, I use this to check out various markets and which seem to have better/worse profitability.

They're cool, but let me know if you have a hard time reaching them or want another option to consider. 

@Sharma Parth the company is out of Arizona and in 12 markets.Just a few years ago, Flint had a major crisis due to lead water line poisonings.

The only thing that sounds out of the ordinary here is the water bill

I think this was good old Mr Cooper lol That's cool!

Remodeling, painting, carpet, flooring, light or water fixtures - sure, I'm good with that.