Figure your costs, then figure put what the market will pay, and determine if the profit margin is worth pursuing.

Your "If's" are presumptuous so unless you have actually determined that they will take a price that actually makes it a good deal, you have nothing here.

So, talk to the zoning and building department to determine the building codes and zoning codes that will apply to your project. 

You've already determined the answer you want.

Generally if no lease agreement is in place you go before a judge and they determine if this is in fact the case or not. 

Therefore you will need to determine the payoff amount. 

I'm starting off in real estate and I am looking to invest in a single-family house & rent it out - I wanted to know what others think are the best towns & cities for investing in a property for stable rents and appreciation or how do you determine if a city/town is a good place to consider investing in?

Depending on your investment strategy, Columbus can determine your cash flow remarkably.

Here's how the IRS defines it:If you own or live in more than one home, then you must apply a "facts and circumstances" test to determine which property is your main home.

@Dominic Taylor agree with @Tyler Gibson You need to first study the market and determine if flipping is even a feasible investment strategy.