I originally planned to get a refinance loan on this house when rates were 3-4%, but the property was in such bad shape the banks kept rejecting my requests for loans once they saw the condition of the property, and I couldnt qualify for insurance at that time.

We then switched gears and looked for land because of the 2016 Smokies wild fires.

These were farms, land with timber harvesting, land with some mineral deposits.

Lately he has bought local restaurant businesses, primarily, but also apartment buildings, land, MHPs, and other commercial properties. 

Also have to wonder is\f the OP has been advised that the unit is so old and in such shape as to be unrepairable and needs to be replaced, and is sending in a line of repair persons until she finds one who is willing to try to repair it; but it hasn’t worked? 

Just relocated from the Bay Area to the Philadelphia market, working for a real estate developer in Land Acquisition.

It's ok to bypass scalable appreciation in your town in favor of a property in good shape or that you can put in good shape that will consistently cash flow with decent to quality tenants.

For the owners who were prepared to get the home in tip top shape have little disturbance in cash flow. 

Your wisdom could help shape the path of a new investor looking to make a smart, informed decision.Thanks in advance for your valuable input!

Also meant to add that we've had many groups (with kids) who left the place in much better shape and more thoughtfully.