ive been doing some research driving around my area and came across this house . its a 3bedroom 2 bath , 2 car garage with a pool . the house was buildt in 1999 . however has been vacant for 2-3 years according to the neighbors . the story goes that an elderly person died in the house . this is fairly common in hernando county florida . but after a walk around the property . the house is in need of mild repairs . a fresh paint and drain of the pool a fresh paint of the house and that's on outside inspection ,and the a/c looks newer the roof looks original so I'm figuring another 10 yrs on the roof   I did see shampoo bottles in the bathroom however I cant go in the house for a more formal inspection ,  comps show the house to be worth around 110,000. 

I've been buying/flipping and buying/holding in Northern VA for the past 10 yrs.  

I appreciate it very much.The property has been rented for the last 8 yrs to the same tenets an would like to stay if possible.

Im not 100% sure but being that it is only 5 yrs old you should be able to have a bank or credit union get you a NADA value.  

I'm from Chicago and I spent over 15 yrs. as an agent and an LO.

A few thoughts about your analysis- don't forget insurance,  replacement costs (e.g. roof $6,000 / 20 yrs.= $25/mo.- do that for appliances, HVAC, water heater).  

Shes owned the property for 12 yrs and has just over 50% equity in the property.

Took 3 yrs.

brick ranch house, about 60 yrs old. original windows are steel with steel pans (attached with metal clips to the studs).Have been getting quotes from 6 contractors and the price is from $4500 to high of $5300. this includes cutting the steel pans off, building a wooden frame, foam insulation, alum trim outside, wooden sill inside and trim inside.contractors act like this is impossible job to handle and i think they bid too high.I priced basic American Crafstman windows at HD and it came out with LowE and Argon to $2400.they quote Excalibur windows and i know they are paying less than 2k.does $4600 seem like a good price?

The problem with using leverage over cash with the reasoning that your tenant will pay it off over 30yrs, is that your then missing like 30 freaking yrs of income that you would have recieved if the house was paid off.