Not a bad ROI, but the area overall, outside of Park Circle, hasn't seen the same improvements as other areas in Charleston.I grew up in Summerville and there are a few neighborhoods that have investment activity.

Also, state law plays a major role.

Our property had shown signs of termite damage to a structural beam during the initial inspection, and I paid for both a structural engineer (to verify the beam’s integrity was sound) and a termite inspector (to verify there was no active infestation).  

Active investors like you, who might have a DTI higher than some banks want, should ask to use alternative UW methods like asset depletion. 

Is the landlord trying actively to rent it out?

I’ve been doing research and majority of states have the same/similar eviction process and time line minimum 30 days.

From my experience, most brokerages are actively hiring at all times and will gladly bring you in to discuss their operation and the possibility of you joining. 

You may find out that the owner does not have permission to lease his land out to the use that's on the property even though its commercial.Contact a couple of local commercial real estate brokers who are active in the immediate area, they should be able to give some guidance as to the going rental rates for land uses.

Go with either duplex or tri especially if you are within the 5-mile radius of the major shopping center. 

I don't know what the scam would be, but I'd be awfully worried about a title defect, a competing probate claim or some major defect in the home that the seller successfully hid.The fact that you closed in 4 days is especially concerning.