What would be a sweet spot in the Orlando area for 100-140k? 

Start putting it in the track at the most complicated spot ie steps.  

The old owner did a quick walk through and gave the old tenant his security deposit back on the spot, and when I moved in after the purchase I noted a few hundred dollars worth of damage.

$140,000 is an amazing spot.  

find the hot spot and engage.. so over the last 2 years while Ben is looking for that pearl I have done over 200 deals  LOL.. but I also spend 3 to 4 months in hotels and on airplanes.. but I love to fly !!

We bike through Homewood to Wilkinsburg often to visit some of favorite spots in those neighborhoods such as Biddle's Escape.

Wilson North Carolina is the area but property values are very very low and the spot where the property is I looked up the crimes that have taken place since January and its pretty high. even for recently sold comparable in the area they are not even close to what this house supposedly appraised for.

Does anyone out there have feedback on current rental pricing trends and days on the market vs. say a year ago for cities that have a high concentration of absentee owners and/or cash buyers in locations that are NOT second home hot spots (Memphis, Birmingham, Richmond, VA come to mind)?  

Wayne is spot on about differences in FHA/conventional.  

Sounds like you've achieved a good spot since school.