I did a quick look on the property and noticed there is a creek running E/W through it. 

Sin e you mentioned fish and swim you must plan on being close to a body of water.

E g “paint bedroom 2” and “resurface cabinets in kitchen” and do this bullet point style. 

AirDNA is the most popular research tool for your purpose.

It is a popular benchmark used in the measurement of an entity's ability to produce enough cash to cover its debt payments.I'm a newbie as well and still being a sponge. 

There are many popular neighborhoods that are growing outward that will allow you to buy a home in the 120K range. 

Quote from @Scott E.: Quote from @Jerryll Noorden: STOP!!

I think it will become more popular over time.

@Scott E.

@Savanna Collins- good questions  -to figure qualifying income  - lenders will use a 24 month  average of your  self employement  income off  tax returns  and  they will use the  Schd  E  income for  rental income  calculations  ...if  rentals owned  less than  1 yr  -  lease  agreement  might be  usable to  calculate the  qualifying incomes ...best  step  will be to  get a free  pre approval started  in order to  see what your  formal  documentation allows  .....also by  doing this  you will become  familiar with the  process  plus  be able to  find out what  your  shortcomings  might  be