Our second property was less expensive and pulls in close to as much in rent, but it is in worse condition.

Fill out the terms and conditions.

. :-) I can say if you want a trendy location for a flip, the place is going to be in pretty bad condition in this market at around $100 because the land alone is often going to run that much.

There are no pictures of the inside so I can’t tell the condition but imagine that it would need a new layout.

The specific site condition could change my answer, but generally there may not be anything specific that needs to be done.

Based on your description of the market conditions single family may be the highest and best use of the property. 

Does anyone have a good recommendation for a place in Tallahassee when I can buy used appliances (Stove) that is in "like new" conditions for one of my units. looking for items where they may have a small scratch, or was an open box from a major store etc. 

I will say the countertop is about 10 years old, but was in excellent condition upon move-in.

The reason appreciation is not discussed as much as cash flow is becuase there is no set method/formula for calculating the value of your invesment five, ten, or twenty plus years down the road, this is due to the fact that the property is dependent on market conditions.

But when all the record indicate something different than the actual physical condition you need to figure out why.