The tenant is a long-term tenant and the seller lives out of state, and so thought they could do anything with the property they desired.

If we can't counsel with sellers, eye to eye or ear to ear, our chances are less in creating that desired profit. 

After talking to him a little more, we realized his actual desire was to pull some money out of the building to invest elsewhere but was worried about the appraisal and state of the building.

Here's how I see your deal:Gross rents: $5,400Operating Expenses: $2,700NOI: $2,700Less Desired Cash Flow: $1,200Money Available for Mortgage Payment (P & I only): $1,500Putting that in a mortgage calculator with a 30 yr term and 7% interest rate, that gives the maximum purchase price $225,461 (less any repairs needed).Good Luck,Mike

Invest if you desire and write down clear expectations too.   

I have enjoyed it, but I have very little desire to work a 9am-5pm job in the corporate world.

@Doug PetersProperties in Hamilton County are always desirable to both investors and owner occupants.

For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/usersI really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alertsThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

Have you considered expanding on your desired area? 

You need to learn how to convert your leads otherwise you will send thousands of mailers and not have the desired success (been there).