Market is so hot right now there aren't a bunch of REO deals just hanging out on the MLS like there used to be.

You essentially intend to fix it up and put new tenants into the property, so the existing numbers aren't as relevant. 

There aren't really any formulas for this, your best bet might be to look at the pictures in rental comps other than that I would estimate the difference to be about $100 in rent for every $1000 of rental value if everything in a non-updated unit is clean, usable and looks reasonably nice.

All the signs point to them being fairly good tenants but I don't want to get into a situation where we can't even enforce the terms of the lease because our names aren't on it.

If you would like to meet up I specialize in educating our investors in management as I have several years of management with over 1500 units.

I'm working on finding my first deal, sadly down here there aren't really any house-hacking opportunities so I've been searching for years now.

I am getting my license so I can be more educated in real estate, get access to MLS, and be able to see properties quickly.I thought I should look for a Broker who is an investor so he/she could help guide me as I expand in the future. 

Might have to educate him on the benefits & tax advantages of owner financing but worth the shot. 

Floors aren't creaky, modern plumbing and electric, steel beams stabilizing the ground floor (as viewed from dirt crawlspace).

I would double check that there aren't any common utilities you will be payingMissing landscaping?