If you have another $25k to put with the sunk in to this deal you might be able to swing one of @terry lao fourplex deals. 

I'm not local but do travel to the area for work every 3-4 weeks and I have a friend/handyman who could swing by.

If you can swing it, converting the house into a rental would provide you a long term investment. 

Put an old hard drive magnet on the end of a 1x2 and swing it through the yard, or get one of those fancy magnetic rollers from the hardware store. 

Maybe it sounds bad, I don't know, but my goal with investing is not to spend all day "pounding" the phone calling, but rather to develop a steady source of passive income so I can do what I enjoy such as playing golf with buddies on a Wednesday.

@Tristan S. and I were hoping to swing by on an ad hoc visit.

I am focused on learning as much as possible about rental property buy-and-hold investing before I graduate next May so that I can come out swinging and hopefully make my first investment within the next two years aside from my corporate career.

An old golf pro told me ‘lessons ain’t cheap”.

If you were to apply income based valuation on 1 to 4 unit properties, you would likely get the wild swing that you have observed.Second, the formula of "Net Return" as you defined it (i.e never seen it used before) is essentially Cap Rate * 5 (i.e. using your assumption of 20% down).

There is a little pocket of 30 or so SFHs (non view property) just north of the golf course.