Cash flow is the starting point because it minimizes risk.  

I'm disabled and live on minimal income.  

Find a place you think will work with your plan that needs minimal rehab at best, and try to get financing. 

Some reports I read indicate it around $1.25 per sq. ft. which I think is way too expensive for Troy ?

yes it does I moved out last July and it's been positive cash flow since with minimal issues and 100% occupied 

Since then I see cash flow as an indicator of a good deal and insurance in tough times but I'm focused on building wealth by investing in an appreciating market and specific neighborhoods that still have a ways to go.

After going through all that, there were no open investments, and no indication of when there might be.

You also always want to include a home inspection contingency so that you minimize risk associated with unknowns that could come up and back out of the deal if anything huge comes back in the report.

Taking action is something I can do, I'm just trying to minimize my mistakes and to look for some guidance.I know time is more important than money and I'm not one of those people who expects things for free.

QUESTION 2: Regardless of the situation, would you consider it a good deal in a hot California market if the rents covered the mortgage with minimal cash flow?