I took a risk on an occupied property because there was so much equity built into my winning bid, but I'd generally advise against it.

It has an ADA compliant ramp built into the garage. 

Property taxes are based on the vacant lot that existed before this home was built!

House was built in 2007, and is in great shape.

Working with a private bank to see about 10% down with interest only until the property is built.

.- full bathroom update x2-A/C RepairThose are the main ticket items

This is just a general question, but I see it discussed on here a lot that your rental properties are under a different insurance company than your primary residence (and other items) because usually your main insurance companies aren't great with investment insurance. 

I think there is going to be further competition for entry level housing (because they haven't really built much of it) which is going to keep those prices pretty flat or slightly rising even in a downturn.  

I've come across two SFH in the DC area that are very nice/brand new homes that, for whatever reason, were never finished being built.

Once you know, you can estimate better what it would cost to replace those items.