It is not cheap and it's not supposed to be.

I’m open to flipping, renting, or exploring other strategies.My mantra is to test new things “fast and cheap,” so I’ll probably begin investing locally in CT before considering otehr markets across the US. 

If you're open to exploring new markets, this could be a great way to pick up properties for cheap and build cash flow with a much smaller upfront investment.

I would do some updates and add some color on the walls and maybe throw pillows etc.

Does anyone have experience buying properties for cheap from land banks, renovating them, and renting them out/selling them?

we just poured 5 foundations in Columbus Ohio in the last month the total packages with sidewalks is less than $30,000 and that's cheap.

Neither are cheap but I feel they both are probably are going to be the best solution for me.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

The programs are not cheap, but they are legit.

Selling gets a tax free gain and allows you to be more liquid; keeping it allows you to have once in a lifetime cheap debt and have that leverage on an appreciating asset.