I ran the deal through my analyzer and based on your GSI and using 40% in operating expenses (Vacancy, Property Management, R&M, Taxes, Insurance, CAPEX), this is what I came up with.

This seems like a decent return based on what I paid.

Example: Purchase 25k 972 sqft with mild rehab ($60sqft for gut) Figure that your rehab is going to cost around 50kIf your AR= 120,000 that would mean the bank is willing to give you 90kYou would be able to have 100% of the property financed and around 10k profit after fees/costIf you need me to get better numbers I would be willing to have a conversation with you and get my numbers tighter based on that area. 

I'm the co-owner of The Construction Guys based in SLC.

If I were you, I wouldn't offer anything based on the info here.  

It's going to very greatly based on your exact goals.I recommend starting off by reading The Book on Rental Property Investing by @Brandon Turner.

This is my preferred method based on the judicial system being far too slow.

I'm still deciding what to do about them, but these floors are fir, not hardwood, the paint is likely lead-based, and the painted floor (in the bedrooms) fits the house's style.  

I keep a pretty close eye on rentals that come on the market close to mine and base my decision more on where I am relative to other properties than a general % increase.  

There are two to three markets I am interested in that I have some small relationships within that I could utilize, my hometown, my wife's hometown or a place I visit often for work.My questions concern the opportunity cost of learning the ins and outs of 3 different markets when the requirements of truly knowing the market increase the chances of success.Do I select one based on distance, the potential to cash flow or appreciate, or one that I may have more connections in?