If you find yourself in a similar situation, I highly recommend exploring the gift of equity deals and using sweat equity for renovations.

Collecting rent rolls, walking properties, learning who's doing the best in our sector/niche and how they're doing it, finding partners, all of these things I'm fairly good at, as I've been doing this for my recruiting agency for the past 3 years.

Also talk to the local building inspectors and find out who they recommend and who they constantly have problems with.

In turn they will help you find off market deals as well.

Quote from @Sam Evrard: How do you go about finding areas to invest in with limited capital? 

I find that hard to believe, but you can always call HR and simply say you are trying to confirm if X works there and not say why you need to know.

How did you find this deal and how did you negotiate it?

You need a solid proven system to find the deals.  

I went back to Memphis last year for the first time in six years to find all is as advertised with very minor exceptions.We have picture inspections done every four months, cost $75, because I'm a trust but verify guy.Good people, good service.   

It has been tough to find attractive deals in Fairfield County.