I do feel like you're trying to sell me something with all the refreshes and updates and modern whatnot.

Like in MS its quite common to transfer title that way and title is insurable in other states your right all the quit claim did is release an interest . 

I've never heard of any such legal requirement, and at this point, I feel like they’re making things up.

It also looks like it could be a great starter home as well for graduates/ younger couples local to the area.

Sounds like a cool deal. 

Like material cost only. 

No I specifically do not mean places like that.

Analyze properties using tools like BiggerPockets Rental Property Calculator to assess if a property will cash flow.

That's a huge achievement, and it sounds like you navigated some real challenges along the way.Your story reminds me of a project I took on years ago.

The area had stalled after the 2008 downturn, but he saw the potential for growth, just like you did.He held onto the property, renting it out and watching the neighborhood gradually come back to life.