With the size and the clutter of the units from the tenants already living there it is apparent that the people living their do not take care of the units very well. 

When I talk to a realtor about my requirements, price range, size, year, etc.

In the 1960s we have seen large swats of farmland converted into single family subdivisions, which are today Milwaukee neighborhoods - we don't have any farm land available anymore inside the belt of wealthy suburbs, which their 3 or 5 acre min lot size zoning requirements (as we have in Mequon)  So space is one constraint, the cost of building is another.

I know there's never a one size fits all investing strategy.    

I would take the stabilized NOI and divide by the going cap rate in your market for that class and size of property.

I will admit that the door is an unusual size (30x84) which may require a custom door.

House has 2 nice size bedrooms with a large bathroom.

My husband and I have been buying and living in single family homes then renting when we move (only when the numbers make sense, 1% rule or better) I have recently been looking in the Williamsburg/Yorktown/Newport News areas and haven't found anything that looks like a smart investment based off the 1% rule.Due to our family size (family of 4 possibly growing to 5 while we are there plus two large dogs and a cat) we are looking for a 3-4 bedroom home, over 1,500 sq/ft. 

The bigger houses aren't rented out that often, but when they do they bring in alot of money.Most houses cost about the same in my market, regardless of the size. 

Even if your credit score is on the lower end of the acceptable range for conventional loans and it will be owner occupied - still high.Investment property, asset based loan , or buying in an LLC, rate may be decent, depending on credit.Rates definitely aren't one size fits all.