There must be a piece of the equation that I'm not getting.You mentioned that the owner bought the house for $105,000 - was that the price he paid for the property or is it the amount of the mortgage that you're referring to?

Finally some excavators from out of town said they would do it if needed but waiting for there bids on it.

Also, this is the second time I have seen someone mention the "house hack technique."  

Link mentioned exterminators, for my lease I always make sure I inform the tenant they are responsible for pest control beyond termite treatment.

As you mentioned, the appreciation can be minimal but they're mostly investing for cash flow.

But if I count in at a minimum the vacancy and maintenance/repair budget, like Nick mention, at a rate of 10% of income per year for each category per year, I would have a hard time cash flowing.

You mentioned a "luxury impression," what's the approx.

Like @Bill S. mentioned there is an awesome REI Club here in GJ, check out this BP link for contact info: https://www.biggerpockets.com/rei/colorado-real-estate-investment-clubs/There are some fantastic training events coming up this month at wCAREi on Foreclosure Investing (yes, you can wholesale foreclosures!)

About two months ago I was tired of telling myself that one day I will get into investing and I didn't want to wait 8+ months to save up enough to start investing, so I took out a personal loan for the minimum amount my friend would partner with me on a deal for and I jumped in.

Same things that you mentioned as well as no floors, 2nd floor walkway needs to be redone and so on.