I should disclose that I am a real estate attorney, although I pretty much work full time on my development and investment business nowadays.

It would be lucky to be break-even nowadays. 

What with Ring doorbells and such, cameras are really all over the place nowadays...not much you can do.

Folks, nowadays I see suddenly a lot and a lot CU can offer HELOC to rental, with CLTV from 65-75%.

One buzz word to be aware of with a lower downpayment is Private Mortgage Insurance (PMI), if your down payment is less than 20%, lenders typically require PMI.

How is the Winston-Salem market for investment nowadays?

You cant get a loan nowadays unless it cashflows.

=======Locate the septic feild(s)(s)(s).Have a scientific drinkability test on the tap water for any contaminates.Beware of big (and small) spiders in the basement.9 x 9 tiles are probably asbestos, same for the glue used to hold them down.Wiring and electrical panels may be at end of service life.Florescent lighting may be circa 1960 (I dream of Jeannie) lacking modern non-buzzing startups and be way to many for modern use (electrical hogs).Don't drink any of the water (or even get it splashed on you) without having it tested first.The building may have city water and well combination.Find all abandoned septic fields.Find out if the fire suppression equipment is up to spec with the local fire dept--inspections, types.Without a roof and with many broken out windows insurance may be hard to find.Paint--expect lead (the pealing type) of paint.Assume anything with capacitors-(HVAC, Florescent troffers, Kitchen electric motors, food service garbage disposals, etc.. )-the capacitors are bad--do not turn on until checked by a competent technician.Look for a basement.Look for fallout shelter(s)(s)(s) underground separate from the building (Duck and Cover Turtle era).Look for steam heat system and have it inspected for possible use or demolition.Look for abandoned wells, that may have dried up or were too contaminated to continue use.A phase 1 enviro would have been a good CYA move--you can bet any buyer from you will get one...Pay to have a written professional inspection done of the building to get a consolidated look at the things you will be facing.

I will definitely add the B&D guide to my repertoire and just use the millions of resources available nowadays and the biggest help them all, doing the work and learning from it.

The challenge nowadays is finding deals.