Build in late 1970s, 3 bed/2 bath, 2 car garage, approximately 1600 sqft, need new carpet, possibly new roof, has some foundation issue, and require general update through the property as stated on the flyer.

I personally like dark hardwood, but they present maintenance issues... dust and dirt, pet hair, scratching, etc.

You can usually fix these issues and these will provide an immediate boost to the property's value.Also, I would say chances are good you can find some motivated sellers in these areas.

Loan amount should not be the issue more what the appraised value is.

As you go down the scale of desirability, the price goes down, until you reach the small station, in a bad location, hard to get to, in a low income neighborhood, with environmental compliance issues.  

•A proven business leader with 25+ years of management and technical expertise holding multiple leadership positions within real estate, manufacturing, sales management, business development, publishing and hospitality fields.

The carrying cost is less 500 a month so that's not an issue. 

In CA safety has become a huge issue in many ciites.

No amount of "should work this way" seems to work for very long here (at least in my experience), as every single flip will enjoy all kinds of surprises and contractor related issues.

Please post any further progress you make in defining any advantages or issues you may discover.