The rehabbed comps in this neighborhood are selling for $110K.My area of concern with this house is that it will probably need the polybutylene plumbing replaced soon ($8K expense) and eventually the pressboard siding ($9K expense). 

I'm really looking for some part-time passive income that hopefully can eventually grow to something which would allow me to quit my job and enjoy my hobbies.

But investing is where I want to be...eventually moving on into the big bucks with multifamily in the Northern Virginia area.  

I played 2nd and short when I played softball, but eventually when I started playing with huge people that could bat the balls at mach 1 into my stomach, I moved to outfield and enjoyed it quite nicely :) Lol.

My goals are to then use my resources to invest in a multifamily use property and work my way to apartments and eventually having my own real estate company.

Our father in law lives out in the country in Ava and my wife and I eventually want to buy land and live out there once we've built up a portfolio of cash flowing rentals (future focus)So really springfield is a little bit convenience mixed with a little necessity because of family; however, I think I might want to branch out to either the Kansas City or St Louis market...but that's a ways away.As They're always saying on the podcast, you can always find a place to invest within just a few hours of wherever you live

Also you're eventual end buyer may not care about the ARV & only care about current as is.

Let us know what you eventually accept and why. 

He did this for enough years to satisfy the Adverse Possession requirements and eventually sold the property to somebody else with a clear title.Adverse Possession is difficult but is possible under the law.The best advise to you would be to seek out an attorney, in CA who is not only a real estate attorney but one familiar with the Adverse Possession requirements. 

The large expenditures are going to eventually occur for a new roof, new windows, new furnace, etc.