With single-family homes, the issues are different, you carry the full burden of maintenance, so the physical condition of the house, along with any municipal violations, becomes a much bigger factor.In the end, for me it always comes down to three essential considerations before bidding: understanding the market conditions surrounding the property, knowing which liens or debts you would inherit, and being clear about the physical condition of the property and the repair costs you might be facing.

I would recommend anyone getting started today to have $35-50k. you could buy a rental for $100k, put $25k down and have money for closing costs and any repairs.

Certainly no one is going to repair it for you. 

I also have an incredible contact for credit repair if you are interested in getting some guidance around building that.

During the pending period, the appraisal came in below our offer price, so we renegotiated: I agreed to take on the roof repairs and close sooner in exchange for the seller reducing the sales price to match the appraisal.

The home will definitely need some repairs (carpet for sure, paint and patching, and a handful of other stuff).

The plumber who came to repair it already removed a large piece of the moldy ceiling and fixed the leak.

What’s your process for estimating ARV (After Repair Value) and repair costs?

In Knoxville those homes usually need extensive repairs - unless they are studio condos in not very attractive markets.

You haven't discussed the condition of the property, repairs, and future capex.