., location, property condition)?

What these $20 - 40k “mentorship’s” sell is a SHORTCUT, but it does NOT work because the PRIMARY real estate education and knowledge MUST be there in order to be able to implement and strategy or tactic correctly, at the correct time, and under the correct conditions.  

Flipping and value add works in any market conditions at least for me is does. 

Also the 1% rule is about as good as the rule thumb and not based on current conditions or current data. 

Our current economic conditions are challenging for cash flow in most markets, but I wouldn't let that stop me from diving in. 

If the seller misrepresented tenant conditions, consult a real estate attorney about potential legal action.

We (the buyers) notified our agent that the property must also be move-in-ready.We received images of the interior and exterior which showed the property in move-in ready condition/what appeared to be minimal to no deferred maintenance issues, the listing said "property inmove-in condition/turn-key".

You will need to factor in rehab costs, which could easily eat up another $50-75k depending on the condition.

Adjust depending on state of home and local market conditions. 

I have a little hard time estimating a fair market value given these conditions as I don't know how much to discount the value of the house with these issues presented.