Not sure on the Black pipe sticking out Not a dryer vent Possibly at one time Vent for a wood stove ?

@Chris Wood I'd look harder as to why he's selling it for 12k.I'd also look into the possibility of turning that 1br into a 2br...I have 2br homes that are even smaller than 600sq ft, if you can believe that.  

Got a call from a gentleman that saw one of my ads on CL he's a pretty motivated seller of a 1bedroom home, just said the only negative thing about it is that it was built around the 50's and it sits on a wood foundation or an "A" foundation.

What we do is get our contractor to tear apart the wall, remove and replace the damaged wood. 

my accountant was retiring and they brought in a new (experienced) associate to work on my returns- averages 50-60  pages- and I like someone with a sense of humor so my first questions which my current accountant loved was- How much wood would a woodchuck chuck if a woodchuck could chuck wood? 

Granted I will be out of state and am willing to pay a little bit of premium for turnkey, but the price and/or income ratio are just not making sense.Are there good suggestions for equity and cash flow?

Is that a reasonable starting point for valuation or does that price represent the additional risk premium bidders take when buying at auction?

I am still a newbie but am familiar with your neck of the woods.

I have wood laminate floors, granite counter-tops, and a remodeled bathroom.

Putting paneling over it, putting sheetrock on top of the existing sheetrock that has lead paint on it, covering outside corners of walls with wood at least 4" back from the corner, putting new baseboard over old lead painted baseboard, etc..