And as @Erik Whiting mentioned, in that price point, you are probably going to be competing against 30 other people sitting on cash just looking to get into the real estate, and are willing to overpay.

But, I don’t want to run the risk of sitting with a vacant property for two months after I purchase.

I’ve officially closed my first deal today and now I’m sitting here with a check for $14,500 and I’m honestly lost on What should I do next??

There are 100's of posts on here about how great it is to invest in the midwest, which can be true if done right... but, it can be crazy difficult to deal with people who's office you cant go sit in until you get results on a Tuesday afternoon.

They walked out on a house about 3 years ago and it's been sitting vacant all that time.

They sit on the market for a while, and they never comp out the same as the houses around them. 

Sitting on .5 acre. 

I read an article saying Auburn was one of 15 places in the nation where property values still increased that year, though I don't recall the exact year.  

changes the equation quite a bit.Also, you aren't figuring out your expenses properly. it is not as simple as saying "mortgage is x, rent is y, so cash flow is Y minus X." what happens when the place sits empty for a month?

Both properties sit next door to each other and were purchased with 100% occupancy.Both properties have been heavily neglected and need work.