Josephine your situation sounds scary and frustrating at best and potential fraud activity at worst. 

Stivale that a Tax Assessment appeal is possible.

I believed it could have went for 40k even though the PM said 30k at best. others on AirDND were hitting low 40s. but even with that being said the assessments on that one were crazy and even at the low 40s it would break even at best with me personally managing it remotely.

You want to invest just to have a place to live and potentially offsetting your mortgage payment by renting out the vacated rooms or having x amount of cashflow in the future?

I may be interested potentially interested Christian.  

If you have more figures on the numbers and pictures of the work to be done, it may help everyone here to assess the deal. 

Namely, transfer taxes based on the assessed property value (even if transferred for a $1) & presumably additional accountant fees related to basis. 

You are missing out on an opportunity to train your inherited tenants to pay on time (and potentially extra revenue) by not using an online rental payment option where you can automate your late fee collections.

My family thinks that I've totally lost my mind by buying this house, but they said the same thing when I bought my current home and I think there's potential. 

Understand factors like demand, supply, demographics, and economic trends.Diversification: Spread your investments across different types of properties, locations, and markets to reduce exposure to risk.Financial Analysis: Conduct comprehensive financial analysis, including assessing potential rental income, expenses, and cash flow projections.