It needs a new roof, driveway, mechanical, electrical, plumbing, flooring, cabinetry, minor foundation issues, and more.  

Home has new roof, windows, and security system.

Since, I have had a roof leak, a faulty dishwasher, ants, etc etc .....

The roof will need replacing in the next few years, but not necessarily today.

Some things that tend to get overlooked: - cost of turnovers- quality of residents in there now  and how quickly they pay rent (i.e. might have some late payers) - deferred maintenance - leaks - faucet, tub, toilet - capital improvements (i.e. roof, driveway, etc.) 

Solid area to be looking, and the pricing isn't through the roof much like Austin right now.

The house needs everything: Roof, gutters, siding (asbestos shingles nailed over older cedar shingles), drainage abatement, rehabbed bath, total kitchen, replaced flooring (half), refinished flooring (other half), back steps, total landscape, HVAC (old furnace is missing), insulation (2" in attic; none elsewhere) additional electrical circuits, plumbing includes iron pipes, interior trim and paint.

Demand is through the roof!! 

Owner wants 80k but it needs a lot of work including new roof, all new electrical, some structural repairs and an update to kitchen and two baths.  

Exterior was on great shape, roof looked ok as far as I could tell.