@Dawn Phillips  Sounds like a foreclosure ;-)

Market rent with cosmetic renovation is $1175-$1250 eachLocation is off of south Camp Bowie and I-30 (south of I-30)SFH available in the area on the MLS as of 3rd week of July were selling for $90.90/sq.frThis one is selling for $250,000ARV:$294,000New 25 year roof will be installed, new HVAC condenser/AHU for one SFH, garage door replaced, gutters fixed before closing.Repairs required: paint, replace dishwasher, carpet, a few window screens if renting at market rate.

They left the unit in very bad shape (holes in walls, cigarette smoke smell, soiling and damage from unauthorized pets, graffiti and intentional damage, unflushed turd and vomit in the toilet, drug paraphernalia and liquor bottles, disgusting furniture and trash left behind, fridge, dishwasher and oven looked like crime scenes, cockroaches in the cabinets, grease down the drain, literally the works).

More of anything the garage and trim repair, paint touch ups, central air system, dishwasher, kitchen vent, some closet doors, and little stuff here and there probably need to be up to date.I asked before I left if she would take anything lower that what has been offered and she said, "work the numbers in repairs and make an offer than."

, and also Dawn A.

@Dawn Brenengen thank you so much for the insight and advice.  

Take into account you'll also need some reserves set outside because you're now managing a house-- so dishwasher, HVAC, etc., all that stuff fixes and repairs need to happen.

@Dawn Brenengen posted about Biltmore Hills, Rochester Hills, Worthdale Park which were good investor spots a few years ago, and maybe she has some insight as to current market dynamics in those places.

Then there's the other practical implication of trying to get the person who broke the dishwasher, dryer, etc. to fess up.

Also the granite and sink came to about 1k, we purchased marble backsplash for about 400 and the stainless dishwasher/microwave and range were about 1200.