I will work for free no questions asked.While I understand this may be a ludicrous offer I am proposing, I know this is what I want to do with my life and can think of no better way to learn.  

I feel like I've heard that after a certain period of time you can convert it to a rental and buy a new FHA insured property. 3 yrs maybe??

So if income for a property is 2000/month, they count 1500 minus mortgage, tax and insurance.

What would your standard house insurance be for a 100k house in either markets?

These low down payments will still have mortgage insurance.

Payments currently are 2500 a month  for mortgage taxes and insurance and the place brings in 3000.  

Ever since I read that damn book my life changed, all I talk about is this stuff.

Same with my insurance carrier (Erie).jeff

I'm just looking for some experiences with basically condemned buildings, which are either brought back to life or perhaps replaced with a manufactured duplex or similar?  

I have lived in Dayton, Ohio for most of my life except for 6 years in the Air Force where I was stationed in the Netherlands.