As far as the home goes it sounds like you need someone to evaluate the situation in person and provide you with some options.     

Most inspectors are more than happy to explain this during the inspection if they are not find another inspector.As you progress you may be able to get away with forgoing an inspection as you become seasoned to spot, not only a great deal but also know the major things to look for but in the beginning have patience, keep your systems in place, work the leads and make smart choices....... the deal will come 

I have some work to do with regard to looking into financing options and also evaluating true NOIs for properties listed in my market.

Find someone similar to you in another market that you check in with weekly to discuss your goals and progress.

Ill follow up with the progress.

@Kevin Garcia you really should be putting in the time and research necessary to be able to evaluate how much a given property will be worth given certain repairs once their complete for yourself and not have someone tell you.

Not sure how I would evaluate demand in a remote market. 

Not many are progressing.

@Chris Ganz take a look at Yardi Breeze when you do your evaluations of Buildium and AppFolio - been around for over 30 years, for property managers 1 unit to 1,000 units 

I’d recommend taking a couple months at least to focus on educating yourself if you haven’t already, interview plenty of agents that can help you evaluate properties and will educate you along the way, and attend some real estate investing seminars.