David Greene points out you should look for population growth, job growth (and what kind of jobs), vacancy rate, average income, and building/construction permits.  

Might also b that they saw activity without permits pulled so they targeted the property.

All loan types are eligible for a declining prepayment-penalty schedule and yield maintenance.Subordinate debt is permitted, subject to a non-negotiated Freddie Mac subordination agreement, and acceptable subordinate lenders are limited to governmental entities, community development financial institutions and nonprofits.

In my part of California, a 2 unit (or 2 home) property with only one meter is a red flag that one of the units/houses is not permitted.

Values can be high, but zoning, planning, permitting, etc... in Forsyth can take YEARS there. 

Getting the permit for rental was costly, tricky and a lengthy process.

I was thinking about going at it alone and once permitted, I would remote manage.

You do not necessarily have to replace sheet rock that only has like smoke, but it will all need to be cleaned and any with heat damage or extensive smoke damage will need to be replaced.You are on the right track with getting the city involved--pull permits and "jump through the hoops"  You want to be able to demonstrate for a future buyer that you did everything you should have and the city signed off on it.  

Fix the outstanding permit issues, (fix leaking gas pipe, prove basement original/make it uninhabitable) update panel, FIGHT CITY TO KEEP BASEMENT.

., the dumpster and pulling the permit.