It could be used as a down payment, maybe pay for some rehab work, etc, but I'd be hard pressed to be able to purchase a property for that amount. 

Press on regardless; you've got the right idea.

@Guillaume Fortina As @Brie Schmidt points out, you will very hard pressed to find a buy/hold investment in the neighborhood that you mentioned that even cash flows (at all) right now, assuming you are using debt.

Real estate prices will either get pressed down or cap rates will be going up.

If you don't have any proof of the condition of the home before the tenant moved in, you'll be hard pressed to even hold on to the deposit for damages. 

MOST people would be hard pressed to pack their belongings, find a new place to live, pay new deposits and physically move for less than $900.  

Doesn't work the same way as a normal seller which has a pressing need to get their money.4.

Hot lead is a someone who has sent PFS to show they have capability to buy, willing to sign an exclusive agreement to commit to 1 broker or agent, and have a pressing reason to sell (1031 exchange, capital needs to get put to work right away, etc.)As a principal commercial broker I am the company so get to keep what I make minus my company expenses but most brokerages do not have that structure as they are the larger firms mainly focused on listing volume and not a buyers specialist.Good luck  

Appraisers are usually hard pressed to give someone a huge boost in value over their previous purchase price when they know the owner is trying to force equity- so you did well!

Pressed to explain in more detail, they demure away from further explaining.