Though the rent amount is in line with the area, your tenant pool is more limited, and there's a lot more space to maintain and get damaged, so your returns likely won't be so great.If you find that it's difficult to rent, I thought @Corby Goade's idea of converting it to a duplex is a good one if the building and zoning will permit it; alternately, you could knock out a wall to combine a couple of bedrooms to make it a 5/3 or even a 4/3 (or use some creative marketing - it's 5BR + office/den/whatever) to help make it sound more in line with norms.Hopefully you'll find a family that will want to rent it for years and years - it'll no doubt get torn up, but we all run that risk with our properties.  

However, getting inventory has been my biggest hurdle here lately and I've been banging my head against a wall thinking that there must be another way to find good deals on homes.

He starts telling me how you have to remove trim to paint walls, and he'd need to rent a bobcat to fix the yard, which would cost me 1k plus 35 bucks an hour for his time, and even then he wasn't interested.  

This is for a 1,200 SF ranch with 500 SF finished basement.New 2.5 ton AC unit & coil - $2750 Replumb entire house (1.75 baths) - supplies, wastes, & vents (excl. fixtures) - $5300Rewire entire house & garage to code - new panel, service ok (excl. fixtures) - $5300Paint interior 3 colors (walls, ceilings, trim), incl. removing some wall paper, most surfaces required 3 coats, incl. paint utility basement walls & floor - $4650I'm in a medium-sized midwestern city with average material & labor prices.

William Wall Plumbing does great work!

There is a 6" x 6" vent about 6" by the vanity light fixture (on the wall), in fact, it covers the vent.  

I won't do much to the house unless something comes up on the inspection except for taking down a wall (non-weight bearing) that someone built in the garage.

I would make sure you get a contract with a signature that specifies exactly what colour they want (ie Firetruck red from XYZ company) not just red, otherwise when it's on the wall and it doesn't look like what they thought it was going to look like it might be an issue.

Leaving small holes from picture hooks in the wall would be wear and tear, while knocking a hole in the wall that would require drywall or plaster repair could be damage."

I started taking the p trap off, and then the galvanized pipe broke in the wall... awesome...One call to a contact from the local REIA to get a handy man/plumber, and $290 later the sink is back in operation.