That built in stove is functional, but very out-dated.

I'm new to real estate investing (only last two months) and this could potentially be my second purchase, so I want to make it a good one:3 Bedroom, 1 Bath Single Family HomePurchase Price: $63,500 (comps sold for $80k-$90k last 9 months)Rent: conservative $900/mo, expect it to be more around $1,050Mortgage: $456/mo *Paying cash for now, may cash-out refi to purchase moreInsurance: $60/moManagement: $80/moTaxes: $1400/yrNecessary Rehab:- Various electrical and other repairs: $500-$1500- Carpeting Upstairs: $2000Future Rehab:- Heating and A/C Units are VERY outdated.

Here is the top-level info:Units: 30Unit size: 500 SQFTCurrently renting for $1,050 per unit (Outdated units.

I know a more outdated home would be less expensive and more opportunity for cash flow.

Buying a place that is solid, but outdated and doing renos is a good option. 

The biggest problems are outdated electrical wiring (no ground), mold in basement, home water pressure of 120 PSI,  improper drafting of flue gases, and the list goes on. 

I would focus my efforts on finding homes that are mechanically sound, but may be outdated cosmetically to bring top dollar. 

@Leah LeeThe IRS rule that you can defer all the gain from the sale of a personal residence into a new residence and pay no tax is old and outdated.

When looking at comps how much should I adjust for bedrooms, bathroom, pool, square feet and outdated houses?

The units came in good shape and passed the inspection with no major issues but were cosmetically outdated and as you can see full of junk, fun cleanup :) Our goal is to create gross rents of $8550 per a month or $102,600 annually.