Other than that I am pretty open geographically.

@Alec Burton I've been able to get free lists from the county assessor's office when there are certain geographic areas I wanted to mail to.

Also, the property description says "Annual Tenant-Occupied". 

When the reason for ordering a BPO or appraisal is due to substantial improvements of the property then a description of those substantial improvements must be provided with the valuation request.When an evaluation of mortgage insurance is based on the Current Value due to substantial improvements and the loan seasoning is less than two years, the loan-to-value (LTV) threshold is now 80% or less."

Of course, there are anomalies but this is a quick description of the positives and negatives regarding markets. 

Based on your revised description, I don't think I would lose sleep over it.

I'm not a licensed investment advisor or anything, so please take what I say with a grain of salt.Based on your description of the local market, it sounds like off-market deals is the way to improve your deal flow pipeline, in order to purchase at a price that gives you elbow room for repairs and a healthy profit. 

I know this geographical track of homes very well.

This particular OM had no sources & uses listed, no description of debt used, and had no exit strategy.   

Things going for you when you are younger (everything is generalizations): no family obligations, unbounded energy, a mind that is not jaded/an open mind, a willingness to experiment, geographically mobile, lots of time.Things going against you when you are younger: no money, no experience, no track record, unknown interests/abilities, no societal acceptance of ability.