Old skool K&T systems are simply not designed for the electrical loads that houses have today.

I have stayed profitable, for now.

Anywhere that one can buy properties for under $100k is very unlikely to have the rent increases that you will need over time to create positive cashflow, or the price appreciation that you will need to make this a profitable endeavor.

You simply can’t ignore the risk of investing in an area that you’re not intimately familiar with.

Sometimes making a smaller profit and providing value is far better than holding out for a bigger payday on a bad deal, I like that.

But that also depends on your down payment- putting only around 20-25% down is hard to have a profitable STVR.Ultimately with STR v LTR, I'd be mainly curious about your intended use of the property. 

83k profit Lessons learned?

We often use zoom showings, but they build on that mutual in-person experience.We don't encourage bottom-of-the-barrel neighborhoods, simply because with 60-120 year old properties capex tends to exceeed cash flow over time aka money pit.

Should I buy it and take  500-600 less profit per month knowing I can sell it for a large profit as is or even more if completely remodeled?

If both houses were sold in 2024 then the loss will negate the profit from my understanding.