Based on that math yes, you'd clear a couple hundred dollars after all debts and expenses, not the worst spot to be if you're not necessarily needing the cashflow/trying to live off of it, but instead are focusing on playing the long game. 

It appears they calculate gross ROI based on gross income divided by property price.

Echoing what @Rick Albert said, see what your market has, based on what you want to charge for future rents.  

And based off of the price and interest rate we have, I don't really want to let if go.Any input is appreciated.Best Regards

Since you'll need to undo the recent renovations and don't want the furnishings, it makes sense to base your offer on the home's previous value.

To earn passive income through commercial real estate, investors should aim to purchase properties with desirable locations and solid tenant bases and hire a property management company to handle day-to-day operations.8.Private LendingPrivate lending involves lending money to other real estate investors for their projects.

Currently unbrandedbuilding is 2400 sqft.Town population: 2500Daily cars passing through that street. 6000 (based on 2022 data)No working pumps- will be rebranded by purchase.

Don't touch that deal.  

Civil records clerk claims the only forms they have are landlord/tenant eviction based on non payment of rent and I need to google the form I need. 

However, the specifics can vary based on your lender and the terms of the sale agreement.