I suspect an experienced local investor would not be scared off by this house because they could physically see and understand how to address the issues in a common sense affordable way.

And of course in REI, that's too local so some will see flat, some will see 15%.

Hi @Maureen McGuire I'm so happy to hear you went with a local mentoring program that allows a hands on approach and personal attention.

What are the local regulations to be aware of?

Mathew, From my perspective you need to talk with local real estate investors and a quality realtor to determine what is needed as well as paint choice options.

My go-to with smaller value properties is a commercial loan, which usually is based on either 15% or 20% down and my favorite lender locally for this is currently between 5%-6% depending on the rate-lock period (between 3-10 years) and the loan is amortized over 20 years.That's my go-to strategy. 

Once you get closer to making the move, reach out to local agents to get up-to-date info from the MLS.

Start saving money, work on your credit score, get approval for loans ahead of time, and meet and talk to local real estate sellers, other investors, and people who manage properties.

To me this includes being members of your local REIAs. 

I attract better tenants and I also believe I tow that thin line between not being a pushover and not being a jerk.