My next door neighbors house, approach with an offer?

I am in the process of doing a cash out refi to 15 on my primary residence. My appraisal came out about 10k higher than I had hoped. Appraiser said it would have been higher had my neighbors house not been such a dump. She needs a new roof, paint and garage doors at minimum. I have no idea what the inside is like. She is rarely home and I think she stays at a boyfriends place most nights. The yard is always overgrown and I cut her front lawn more often than she does as it makes my house look bad. 

So, the question is should I consider buying it to hold as a rental? I plan to rent my place out in the future and will not be there forever as I want a place closer to Tampa Bay for my boat. 

Has anyone been in a similar situation? We are not "buddy buddy" as she is kind of a reclusive lady and is not very social but we are also not enimies by any means.

Ideas?