Need assessment and treatment.

Should I buy the house based on tax assessment or based on potential rents as this property is currently vacant

Live in house hacking and note and tax lien investing are compatible with 1031.   1031 works best with a generally buy and hold strategy. 

There is not much room for ARV improvements so a BRRRR strategy   would not be used here (they are basically asking for what it is assessed for).

Find the property manager first, buy the property second.Fourth stupidest thing...when faced with any sort of realistic, honest assessment of what's likely to go wrong with a bad situation, stupid investors start the chest-pounding and bragging.

I hope this helps in your assessment.

Will you know how to assess needed repairs to jive with your presumed ARV?

What you want to insure for Loss Assessment.

Look into deferred maintenance and special assessments.

Without actual numbers, there's no way we properly assess whether any property should be held or sold.