We had absolutely nothing except college debt and car payments.

Only debt we have is car payments less then 700 a month for both cars.  

That's like asking, "what's the minimum amount of money I need to buy a car".

And then it comes down to regions  some regions you can do the landlording gig. look at all these 30 somethings that have built up nice portfolios mainly in the mid west.. you can do that there when your price points are where they are at basically the cost of new cars. however that becomes much more difficult in the coast markets.. and those folks can also buy a nice home to live on for 200k  were in Silicon valley its 2 million  !! 

Also looks like current renters are buried under a mountain of stuff, including an old classic car, which tells me they're not wanting to leave anytime soon.

If they could write off 2 offices, 2 cars, 2 widgets, that should be a significant tax savings.Like stated above, they get half anyway!!

List of items to be done - (inspection next weekend)HVACAir Conditioner addition to current forced air furnaceElectricalGarage door motor to 1 car garage door Install recessed lights in living room, and new light fixtures in bedrooms, living rooms, kitchenReplace light switches/outlets to square plastic whiteFlooringRemove carpet, tack boards one main floor and top floorInstall vinyl plank flooring throughout main floor Same baseboardPaintingPaint all wood trim whitePaint kitchen cabinets whitePaint all wallsStructuralRemove half of kitchen wallSliding door for half bath on main floorKitchenReplace kitchen counter top, and match bathroom vanities with sameReplace kitchen sinkReplace appliances with stainless steelBathrooms Replace countertops with same kitchen counter materialGeneral workInstall window blinds on all windows

simply do not take anyone's word for this landlock situation.. open escrow get a title commitment and see it it is actually landlocked.. if it is your remedy in the real world. is1. getting a neighbor to grant you the proper easement you will need.2. confirm from the city or county that you can access the property from this new easement..despite common statements folks will make that no property can be landlocked.. and there are remedies this simply is not true.. properties can be landlocked... owners do it to themselves.. not common but it does happen.As for the old house.. sometimes if there is no lead or asbestos fire department will burn them down as an exercise.. ( sometimes)biggest issue in many markets now is the lead paint and Asbestos remediation during the demo.. some areas they don't car.

Listen to the podcasts every free minute you have, in the car, in the gym, etc until you have heard all ~300 hours of information. 

I was either channeling my inner @Steve Vaughan and taking a nap or driving through Kansas and MO with triple digits on the car thermometer -- the nap sounds better.