Expenses HOA - $125/month,TAXES - $222/month, INSURANCE - $333/month, Property management - 8% of rent = $240/month.

From my employer, I have legal insurance through ARAG that covers 100% of attorney fees when buying a primary residence, filing fees are extra.

A good rule - as long as the plumbing and electric has been updated, a well-built home from the mid-20th century is a better investment and will likely outlast a newer build.Credit to the respective author

There is no running water, the plumbing would need to be redone. 

Buyers and seller love to sue each other and if you’re in the middle of that with no license and no insurance, that’s bad.

I'm not sure the premium vs the basic version (I only have premium) but for any property, I can itemize the purchase price, current value, tag the associated mortgage, my assumption on appreciation, its rental income, all of its expenses (including taxes, yearly mainteance, capex, insurance, HOA, property management, depreciation and other), its estimated sale timing/and fees. 

So, $5k/$20k = 25% return on your investment.This is a very simple example that ignores the rental income vs any mortgage payment (taxes & insurance, etc. would be the same in both examples).To increase cashflow, you would also want to take the lower payment of a 30-year mortgage vs 15-year.Regarding the purchase:1) Require the seller to have tenants sign a MTM lease or vacate before closing.

HVAC duct work insulation is also deteriorated.No vapor barriers installed eitherSome fungi/mold growth notedPlumbingMultiple small leaks under sinks and from bathtub and toilets.House has Polybutylene plastic plumbing which is dangerousMain shut off valve is damagedElecticalSome small exposed wiring and bad splicing.Whole house has no GFCI's or grounding outletsInteriorMoisture spots on ceilingExteriorLose Vinyl SidingDoor Jams and Window trim have moisture damageDriveway need replacementRoofingMinor leaks noted in atticRecommended to replace roof covering, but not whole roofSome fungi growth noted in roofSo some of the question I am trying to tackle with this work is:How much should I budget for the main issues listed? 

They have to get non-QM loans and pay high insurance rates.

We took this disaster personally as we love Asheville and have visited many times.When there's an official presidential disaster declaration (there was), flood insurance policy holders should apply for FEMA assistance in addition to their flood insurance claim.