We recently ran into an issue where the floor joists in the house were rotting due to moisture issues under the house where there was no moisture barrier from the ground and the house being built so close to the ground. 

The roof has been repaired, but there was no carpet, and there was some moisture damage in the ceiling and the house smelled like cigarette smoke.

I got the inspection done the other day and discovered quite a few issues that should be addressed ASAP:-new chimney: the bricks are falling odd-cracked asphalt on one of the front steps-one of the floor joists need to be replaced-some previous foundation settlement issues: the inspector suggested getting a structural engineer to come and look at that-some moisture damage that will be taken care of by the seller-it appears there might have been some termite infestation in the past: the inspector suggested getting a terminate radon inspection done-new garage for needed as the current one couldn't be opened-new ceiling in garage needed as part of it was ripped off, exposing wiring: could lead to a hazardOther than that, a few minor things here and there like replacing a floor tile here, etc.Here's the thing: I'm an out of state investor and was looking for something that didn't need much work.

I have had a tarp put in place to stop the moisture from getting in.  

I would suggest a newer build [1998-up] like a subdivision "vinyl village" home to purchase.These will cost a little more than an older home with the same rent but are much newer, typically on a slab [no moisture issues to deal with] and are easy to rent and/or sell in the future.One downside of this type of home is that most good markets [Indianapolis included] have been invaded by the Wall Street Hedge Funds and they have or are buying up this product at record rates.

The journey ahead will most likely be challenging but keep after it...Since quitting my job, I have bought and sold 4,000 apartment units valued at $200 million.It seems like you are very motivated, and in case you need a gentle nudge to take the next step, you can learn more about my journey at this link:I quit my CPA Job to buy Large Apartment BuildingsTo your success 

It's a basement unit with moisture which is why I chose vinyl

Renters in that demographic aren't likely to keep up with the home, increasing the chances of moisture/mold build up, soft spots, interior rot, heavy smoking damage, etc.

Metal is making its way into the custom market here in Oregon big time its not hail  its fir/pine needles and constant moisture.. that ruin the roofs..  

The problem is that someone finished the basement when they should not have or at least should have taken some preparation steps and then finished it with the idea in mind that moisture could be an issue.