It is a a mess, several years of deferred maintenance and a couple handfuls of loose ends tossed in for extra measure.  

I am externally eager to learn more and get my hands dirty, please advise if you have any recommendations in my local area.

Expensify is hands down the best receipt handling application i have ever seen. 

Hands down. 1) less fees 2)you don’t want to start the amortization clock over again with your property in which most of your payments are all going into interests when refinancing.3)once you pay down your debt with HELOC, your credit line is available again for more draws. 

@Christopher Dorsey Wish I was set up to do business in the US, I'd take this deal off your hands if you just want to assign it.I disagree with @Caleb Heimsoth, this deal has just as much profit potential as the thousands of rentals bought off the MLS every day, with much less risk, namely no money down and no mortgage in your name.

I was wondering if I should form my LLC right away or wait until I have a deal in hand.

FHA was my best option, first-time buyers newbies with little cash on hand can’t be picky... right?

Or, you can try your hand at it yourself after watching a few Youtube videos.

The unit happens to be empty right now but they have a half dozen tenant applications in hand right now in case I opt to not move in.

Given that this is the first of what I hope is at least a handful of properties in the Chattanooga area, my initial thought is to furnish it, use it while I am there, and vacation rental it when I am not.