Not in too bad of condition but definitely can be spruced up.What would you improve in this rental to add value and  increase rent just from looking at the photos?

Overall, I'm taking a long view of this endeavor....this is a very expensive deal, but not as bad when I consider the deals that I can roll these net proceeds into and compound from there. 

I could lease purchase both home and land for the same 900 for 120 payments.If I needed an out, I could sell to another investor, but it would likely be at the same price or less depending on how quickly I need it out.The question you asked does make me realize how it could put me in a bad spot if I needed to sell.

Better wait to find a good property than buying a bad one. 2.

How badly have I screwed myself?

It seems to be one of the next areas to become gentrified but, is definitely not a bad neighborhood.

I have a 650 and lenders are fighting to get my business for a cash out.

One unknown (example bad sewer main) can throw this into retail or above category. 

That being said, the return is decent, and if it truly doesnt need much work and you are good with the numbers, it's not a bad deal.

That neighborhood had plenty of vacant damaged homes."..these are tell tale of a bad neighborhood and a bad investment.3 words you must keep in mind in REI-1.Location. 2.