I'm new and I want to buy my first property for dirt cheap. how do I get past the horrible site of the inside and focus on the possibilities.

Doing some preliminary scoping online for example...the following is straight off the MLS…2010 Todd St Greensboro NC3 beds / 1 bath asking price 65,000Taxes 785Seems like it could bring in 700 / monthThose familiar with this market...is this a horrible area, do homes rent out easily, is this somewhat typical? 

Counties use it for land trusted to non-developement.While they may not be 'illegal in all 50 states' they are often a horrible vehicle to get you where you're trying to go.

Also found that they replaced area vinyl under at kitchen table with a completely different style and color of vinyl...looked horrible and I ended up redoing the whole unit. 

.$40.000 - Purchase price$1.400 - Purchase closing costs$10.000 - Repair costs$2.000 - Holding costs$3.900 - Commissions$975 - Sale closing costs$58.275 - Total Costs$65.000 - Sale Price (I split the difference in your range)$6.725 - Profit before personal taxes $53.400 - Total cash invested (Total costs - commissions - sale closing costs)12.59% - ROI (again assuming no financing)The ROI is not horrible but one thing goes wrong or if you are off on your sales number by just 5% and you lose ALL your profit and take a loss on this as a flip.The property you are mentioning should be a rental based on the limited numbers you provided.

The 5.75% sounds a little high, but isn't horrible.

  $100/month free cash flow on $150-$200K of capital invested is actually worse than horribly. 

Not horrible, but it will be something.

I know it’s not a horrible problem to have but I also don’t want to turn it into a horrible problem.Would love to hear any advice especially if someone has had a similar situation.

Has anyone ever dealt with these horrible things?