Your estimate seems low, but even at that cost, it will not add that value.  

@Bonnie Low

I implore you to do one of two things...1) find a partner that's been there, done that, and bought the tee-shirt so you can learn the ropes with someone who knows the pitfalls or, 2) start with a single-family or duplex with the guidance of someone that knows what they are doing.

You can also try the travelling nurses route, a lot of them are looking for low cost housing when in town. 

However, appreciation is very low in cheap areas.

I just don;t have the energy to pursue litigation.

@Kartik T.

Negotiating favorable terms like a low interest rate or interest-only payments for the first few years could help manage cash flow until renovations are complete.

Though, that would probably be a similar cost to the above ground pool. 

Right now your loan is costing you around $6000 per year.