I asked my realtor why the low price and the previous owner owes $119k and is trying to leave the area.

Your lender is giving you an opportunity you wouldn't have otherwise (to buy, rehab, rent, refinance and repeat) and in this instance, looks like a fair (even low) price.  

We stopped using bandit signs becasue it cant be a real hassle and the respone rate in my area was very low.

I'm starting off as a no to low money down type investor lol with so much more to learn.

Welcome to BP @Xavier Tazanu Check out Brandon's book on Investing with no or low money down, it's a great resource on creative financing.

Profit would probably be low but anything in the green to me is great!

Early winter inventory is low and those out looking are serious buyers, so this is a great time to list.  

There's plenty of threads about buying your OWN primary this low down FHA way.

I own a couple investment properties, 5 units in total and have found the buy and hold investment route has worked out great for me here... certain areas in the city have low investment property purchase prices (50K to 70K) with high rental prices.

At the moment, I'm looking for ways to break into the BRRR cycle in this Seller's market, leaning toward low overhead properties with Short Term Rental potential - particularly near Ybor City and TPA airport.