I've ran the numbers, we would get it for around 35k, about 35-40k in repairs and the ARV is right around 120k depending on the current state of the market.

They are going to put in a certain amount of work and their own money on marketing, photos, their overhead costs (agents are independent contractors who pay their own E&O and health insurance, income taxes, MLS dues, NAR dues, continuing ed requirements, etc., etc. all out of their commissions before they get to keep any $), their time, etc. then they also have to split anything they make with their brokerage. $4k would be losing money for me but again it sounds like a lower cost of living area.   

Obviously I don't have much to offer currently in terms of local knowledge but I love connecting and sharing info and plan to be a valuable and helpful part of the investor community there. 

However, the current shifts in the market conditions have made this report relevant again.

I've met his kids who are in there 40s and I've spoke with people where he banks at to confirm income since he is retired and they spoke highly of him.

Well one would be the equity capture they'd gain right off the get go by buying below market (100k), plus the 7k net rental income, 42k appreciation, 8k principal paydown and 5k from tax writeoff on regular income = 162k is what they'd technically gain. 

I am currently a student at Texas A&M University and I am very new to real estate investing.

I would recommend reviewing the zoning closer before purchasing any of the parcels you are currently vetting. 

I currently live in the metro ATL area, but have history and ties in Charlotte and Chapel Hill (Both NC).For work, we focus on logistics, senior care, and manufacturing.

I've been educating myself on real estate for the past 3ish weeks or so but I have about 10k worth of credit card debt should I try and pay it all off so I can get my credit score up and have better approval odds for ...