The bare bones of the house seem to be in good shape but I will be getting a full inspection if I move forward.If I remodel the one side I estimate about a 25-30K rehab cost and I am able to get $1600 out of it in my area.Let me break down the numbers.

I agree there isn't much meat on the bones here in terms of equity. 

But the place was dry as a bone when I saw it and nothing left was water damaged. 

The old houses around here have great bones being mostly built with old growth redwood.

House had good bones, easy fixup, easy to rent How did you find this deal and how did you negotiate it?

One parking covered space. b.

At that price point, there doesn't seem to be enough 'meat on the bones'. 

The cities you mention are all cities I'd categorize as more advanced in terms of knowing how to work the market correctly so you don't get boned.

The home has great bones, beautiful original floors but needs major repairs.

Thanks in advanced First you want to run the numbers and see if there is any meat on the bone.