That's not ideal but no purchase is usually better than the wrong purchase. 

That is an X factor that you can't really predict. 

Personality and attitude all factor in as well as the hard facts of screening.....credit, income, employment, landlord reference, and multiple personal preferences.

Ideally the rents would be under market with the units as-is, or under what you could get after relatively minor updates to the units, giving you an opportunity to increase NOI.Of course the expenses in the listing are only $9,784 per year - in listings they are always going to be low, to inflate the NOI. 

@Tom Gimer I saw that was a factor in FL adverse possession. 

How do you analyze the land you want to build in, what are the most important, if not all of the factors and elements to keep in mind and research?

Could realistically probably afford 200-300k purchase price, but would ideally like to stay under that, maybe $150k or less. 

That leads to fewer maintenance costs and longer occupancy.Each of those factors will absolutely effect the long-term performance of any property - not just a Turnkey property.Lastly, if you want to just cut straight to the chase about returns,  expect to lose 50% of your rents annually and reflect out over 10 years.  

Be certain that you factor this into any financial analysis.  

I can tell you that unless the structural damage and subsequent repair is obvious, it will not be a factor in an appraisal.