Needs updating, but no signs of water damage anywhere, no mold that we could see, finished basement was totally dry, newer windows.

@Andrew Johnson  antidotal story of a friend of mine who followed me to ATL to buy SFR court house steps in 2011 and 2012 we killed it... then it dried up when Blackstone and others came into the market.. he got the bright idea of going into low end multi.He found a 44 unit in Memphis for 8k a door 65% vacant... as you know I have extensive expeirnce in the mid west and lower end areas like this...

I believe a correction is 12-24 months away and I am advising my clients to get dry powder ready for when the buying opportunities come.I'm not predicting a crash.  

Although it's kinda dry right now it's not uncommon to find deals that cash flow pretty well.

Occasional flaking off of some substance that looks like dried mildew when switching between heat and cool.

Pick a neutral medium-toned carpet that doesn't show the soiling too much and can be steam-cleaned and shampooed with the next turnover.

I'm not sure why they cut out the sheathing either, other than to allow drying, but they did.

Every bathroom gets a 1ft x 3ft window and matching 1ft x 3ft shampoo shelf...

It is water/mold resistant and we had a slab leak a few months back the water just dried right up.

Generally one industry towns where the Industry dried up.The economics is a necessity to long term buy and hold investing.