Simultaneously, try to turn it into a viable buy and hold rentalThe actual value of the property is the cash on cash return from the property as a buy and hold rental.If only to evaluate the work of the realtors, imagine yourself in the position of considering buying this property and do some research and calculations on your own towards an offer on the property.  

Make sure you evaluate the ARV properly and don't overspend on the rehab cost. 

If it is fear that is holding you back then re-evaluate how bad you want what you are after. 

A hard money lender normally knows how to evaluate a deal better than the newbie and will make sure the funds and you are protected.

I'm looking at vacation rentals in areas I've never personally visited, and was wondering what everyone did to evaluate the level of demand in a particular area.  

On the other side of that equation, you can also evaluate your proposed repairs and improvements to see if they will generate enough of a rent increase to pay for themselves.  

What would be your cut-off price of purchase using this example.Questions:How would you guys evaluate this deal?  

Turnover is very expensive.Just to give you an idea, I use a point system to evaluate applications.  

Could you please describe how you would go about finding and evaluating these opportunities?  

I have recently found a foreclosure in my area for around $65k. It's been listed for a month. It could use the basic cosmetic updates- paint, carpet, clean up landscaping etc. the property is 3 bed 2 bath 1,700 sq fee...