This is on the cheap end, and in our part of the country, the better flipping ARV is in the $115-200k range (that's certainly the case in the Cincinnati metro).

There seems to always be someone ready to rent when they have a private entrance, private bath, and cheap.

Labor is cheap here. :)

If you do not see bandit signs in the area you want to work, then again, you can assume that they do not work or that the municipality is pretty stringent and people have learned their lesson.They are not allowed in most municipalities around the country but are still used because they are cheap, effective and a good form of creating an image.

The lack of supply combined with dirt cheap interest rates and lots of discounted foreclosures and short sales brought in an over supply of buyers.

I'm sure this varies from state to state, and maybe you can find someone to do it for real cheap (without a license - but that's a whole other set of risk) depending on how bad mold is.the fact that you have water leaking from the roof down can mean water coulda gone anywhere along the house.

You might be able to buy their inventory really cheap as well.I went to a rink here and the kids loved it but the building seemed to have deferred maintenance issues.

A lot of cheap-looking "honey pot" properties in a city like that for a reason.

The current owner might get all their insurance (car, health,life, property) from one place for an artificially low rate or own a bunch of other property and have maxed out the plan so adding one more property is very cheap.

Buy it cheap , throw some concrete in the hole and call it a swimming pool , flip it quick and move out of state ...Or run away and find a better deal