The house has major foundation issues, major roof issues, holes in the floor, and is generally in major state of disrepair.  

When I am looking at room share on Craigslist and Facebook the majority of those posts state they want three sets of monies - First/Last/Security.

Then line up people for major items.

Are there major things you would do differently of you we're starting over maybe the OP and others would benefit from hearing 

But if you're wanting to get into rei anyway that may be a good way to go.Yet a third way is to find a local investor and offer to split the profits with them 50/50 either selling or holding it.

But a huge majority of the insurance quote I just got was for the property.

I am ok with a modest profit, especially because I have found an 8 plex I want to roll the money into, but I do not want to change the price too drastically.  

Probably worth planning ahead, regardless if this hits the coastal NC area or not. This is potentially a big one. Model is by ventusky.com, a Czech meterological data analysis company. I have no affiliation with the c...

A specific major?

I prefer to not touch them, as I think there is extra liability from renting out non conforming units and they have limited exit strategies, but if I did buy one I not only wouldn't pay extra for the non-conforming additions, but I'd also want a bigger discount such that converting to original and flipping as a single family was a profitable exit, thus restoring this as one of my exit strategy.