But we also found water inside the old meter box & a lot of corrosion in & around the meter base.

HVAC brand new is best  less than 10 years old 4. water heater new or less than 5 years old.5.

The bedroom has oak but there are multiple water stains and contractor said wouldn't be worth replacing.  

When the hot water tank broke she offered to pay half.

And the project needs to start asap or the county will demolish it, if no progression is seen by Spring.

That being said, the land and established septic and water would be worth what I will offer. 

But whereas it has fallen into disrepair and has some water and termite damage and needs hundreds of gallons of paint and hundreds of yards of carpet, it has potential.

At 93k I can get 10% CoC and $200/month in profit.Here are the numbers as I see them:% Down Payment 20.00%Down Payment $23,800 Remainder of closing costs$5,500.00 Total Due at Signing $29,300 Mortgage Rate 5.00%Length of Mortgage in years 30Monthly Mortgage payment $511.05 Taxes $135.25 Sewer and Water $- Trash $- Heat/Utilities $- HOA $- Cap Ex and Ops $150.00 Insurance $65.42 Mgmt Fee $103.50 Vacancy $93.15 Total Expenses$1,058.37Total Revenue $1,150.00 Cashflow/month $91.63 Cashflow/year $1,099.55 Cash on Cash Return 3.75%

I could also give you some standard per foot or piece count prices on some of the basic things like paint, carpet, or a new water heater. 

The podcast and lots of books have been my teachers and I'm working to complete a buy and hold business and operations plan by year end.In the near term my goal is to acquire a property using this model by spring 2016.