From what I can tell it really needs cosmetic updates, roof is decent, unsure on foundation, but its only 1400 sq ft so even if it needs foundation repair I don't expect it to be too expensive. 

Installed new roof, complete kitchen and bathroom remodel then cosmetic improvements to rest of house (painting and new flooring).

The unit had been gutted so it was a full rehab as oppose to a few cosmetic improvements.What was the outcome?

I plan on doing a lot of the cosmetic renovations myself (drywall, cabinets, flooring, etc) as I've been in the trades for a couple of years now.

I guess I’m not really concerned about the ‘flipping portion’ (Electrical,plumbing,cosmetics,structural issues etc) but more on the initial purchasing aspect.

Put in new kitchens and baths (Home Depot off-the-shelf level) and the rest was mostly cosmetic work and some new windows.

It needed small cosmetic tweaks, but that was it.

The house does need some minor cosmetic remodeling, but we are also concerned that the property has oil heat. 

-The prop was in solid shape, rehab consisted of paint throughout the house, cosmetic work in the kitchen and living room, cleaned the basement and waterproofed it, converted second floor to a 3rd br.How many bids did you get?

I think you could probably rent out a single family of that size for no more than $1400 Depending on the street/ cosmetic finishes.