Updated some of the interior items but not a lot of updates needed and goal isn't value add on this purchase but more of a long term hold for appreciation.

During this past year I went from a smoothly running property to over 200 calls for service in one year by local police, a homicide, an exterior fire, and an interior fire set by a squatter.

I purchased the property and renovated the interior and painted the wood trim on the exterior.

We rehabed the property with a new roof and cosmetic stuff on the interior.

Some differences to consider:* Interior finishes* Exterior finishes* Sqft, bedroom count and bathroom count* Floor plans* Ability to add a bedroom* In-place taxes and rents* Year built* What street each property is on / what submarket it is in* Whether it has parking* Landscaping* Immediate neighbors* Proximity to transit, schools or parksMore often than not it will become clear which property is better the deeper you dive into your analysis.

However, the allegation of mold on her furniture, no heat, no A/C, no ventilation seems like a rantings of someone grasping at straws, especially when the original MLS listing has pics of the interior of the house. 

Only interior walls would really need to be built along with plumbing.

Purchase price: $122,000 2 story home with designer interior paint finishes and natural decor.

You mentioned thinking that the rooms would rent for about 500-800 per month; although I think you're in the right ballpark, you might want to be a bit more conservative given that the house has an older interior, and therefore will require discounted rent compared to a place with a brand new interior.

Best thing to do is just bid and win at auction, but remember courthouse steps are no interior access so unless you've done it before, you have no idea what you are getting into and also all of the liens are not always disclosed.