It does have a storage shed in the backyard. 

I am currently into Self Storage projects in Texas, Florida, Georgia and other places.

@David Martin JrHey Dave, if I was in your shoes I would probably go out of state as RE is just so expensive out there.

Again, value add is solid IF you have a networth, or have specialized skill (mobile homes, storage, multfamily)Infinite returns with single family houses is the best way for quickly growing your networth, increasing cash flow and having velocity of money.

I have already set up meetings with two local investors (landlord across the street from me and an old boss with multiple properties), so I am taking the advise of people who have been in my shoes.

It could be a media room, exercise area, kids play area and storage, which are all valuable.

We bought the 1950's  house for $50,000... 1,150 SF with a metal roof, car port, above ground pool, big storage shed, screened back porch... a pretty decent property in our book.  

Put yourself in the seller's shoes, and assume I made a cash offer on your property.

@Jose Pena and @Greg Ko were in similar shoes recently.

It may be able to be assigned to you, where you step into the seller's shoes and take over payments on the $20k balance, and just pay the seller the remaining amount you negotiate in cash, note, etc.