Run it as a rental property and make the numbers work and if you like how the deal looks then offer the amount you feel will work.

Points amount is less than 1%. 

Regarding your Refinance loan amount.  

The market is saturated with flippers who have driven many poor home owners out of neighborhoods and decades old family homes once they can no longer afford the taxes.Families can't even get in to see a house the day it is listed because there are already multiple cash offers and the banks take them and don't give the families a fair chance.Trying to buy a home for my family in Monroe County, and the price we can afford, but newly listed homes that may need the smallest amount of work … NO chance for us.

Gerald, the first challenge you are going to find with this deal as it relates to lenders is the small purchase price and therefore small loan amount. 

You can select the amount of the deductible, usuallyranges from $500 to $5,000.

@Christopher WestUsually there is a minimum loan amount, not sure about a VA loan but I've heard 50k is around the smallest loan you can typically get on a residence.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

I have listed foreclosures in the past and typically there is a time frame that the personal property has to be kept, but only if it is over a certain dollar amount.

If it doesn't appraise for the asking amount, then basically I would have to bring the difference to the table, or walk from the deal, right?