Maybe I disclose a range: "Purchase price $30,000.

- Are there any unique local laws or ordinances in this area that I should be aware of as a potential landlord?

I think I also fell prey to the latter on another property because I offered $315 for a property with an asking price of $335k where the CMA pointed to a range of $275k-$330k and the rental analysis held me at $315k max (with 5% for vacancy, 5% for repairs, 3% for CAPEX and a 7% for management- it had a 9 yr old roof and all new AC and appliances so I reduced the CapEx). 

That's a big range. 

Depends on your unique position doesn't it?

It's been on and off the market since 2012 ranging from $199k down to $150k now (they've just dropped it this week).I did call the family after reading your advice, @Jason Hirko . 

I have seen some sell in the $45-$60k range that have ARV in the $85k range.  

Annette, respectfully, I don't think this is a great idea.First, it's very hard to find a rental in Fort Worth in the $50,000 range.

Depending on the price range you're looking at, you may or may not need much hard money..just my 2 cents.

The single family homes in that price range are either in poor condition, or are in a bad area.