As others have said, the best thing your son can do is run far from this deal, buckle down, save his pennies (he probably already is doing this), house-hack, and improve a property with sweat, hard work, developing a DIY skillset, and self-managing tenants. 

Zillow says the average price for a house in Little Rock is $215,000.

You can say houses are much more expensive today!

For flips, ensure the profit margin after all costs is at least 20%-25%.

This question seem pretty naïve for someone that's flipped about 30 houses. 

Glad you made your way here.. are you eyeing long-term rentals or short-term flips?

If you ever need guidance on funding options for flips or rentals, I’d be happy to help.

If you're exploring financing options for flips, rentals, or new construction in Tallahassee, I’d be happy to help.

Ie// fix and flip, single family vs. multifamily, etc.

The house was vacant for 5 years with a new roof (5 years ago).