He was retired senior management at HD  he ran the entire Mid west I believe 16,000 associates under his command.  

As a retired police Commander (30 yrs), I went to Afghanistan embedded with Infantry Brigade Combat Teams (2011 with 45th IBCT, and 2013-2014 with 2nd BCT/101st Airborne) as a consultant on a Dept of Defense contract.

If I keep a nice updated building that commands a top rent then the value will be what it is.

And if your doing these in your home market even better as you have command and control and can visit the project through the process..

You can also look at the areas of Garland that feed the Richardson ISD.In general, you'll find the North & Far North Dallas areas command higher rents than other comparable looking areas of the Metroplex - ie Southwest Arlington.  

Not knowing the exact address nor the exact shape it will be in after you have rehabbed it, it's hard to say exactly what price this place might command. 

Are the rents currently below what the market will command?

My agent even points out what amenities will command higher rents and what portion of the fee it takes to support that. 

When I read many of the posts from reddit or stories from "The Millionaire Investor", a lot of them were bought at much more lower prices at around $10k-100k.Also I have read about the 1% rule for rents from the book, so a $100k property should command $1k rent per month.

You might be able to divide that into a bunch of lots and build multiple single family homes that will keep and command more value.