I paid approximately $7k in fees for a $65k loan. 

this is tricky, it tends to be a case by broker-case basis, and only a handful of brokers control the bank-owned..yikes......i forgot if the agent can rep. the bank and you, there in NC, if you make offer..Just thinking out-loud and opinion, not telling you what to do, dont know your plan (hold, flip, or your funding):  ...get over there, with a property preservation buddy, assess the repair and upgrades, (unless its already pretty perfect or you feel the agent can give you some accurate idea)...ask agent what he/she can sell for in good condition, confirm.. then factor arv, repairs needed, make offer with 10 day due diiigence professional inspection......are you offering an almost full retail-market priced forclosure anyway, then are you going to hold it for cash flow? 

Given the laws in California, the most likely outcome is to get them out of the unit and charge them for fees associated of replacement.We set the rent just slightly below market given the long term lease agreement, something I terribly regret.

Just ran a quick search and Fayetteville, NC seems to rank at or near the top when it comes to the rental vacancy rates in NC. http://www.civicdashboards.com/city/fayetteville-n...Could anyone comment on that or is that something you simply factor into your numbers before going into a deal?

And with Roofstock’s “rent guarantee” program (essentially Roofstock promises payment 90% of rent starting 30 days after close if PM company can’t place a tenant, as well as covering initial leasing fee.).

Should I improve the property and use as a proof of concept to see if my market can handle a higher rent factor?

If I were to rent it, based on comparisons I believe that I could get approx $1600 per month, minus the $1455 ($100 renting fee, and the $1355), I would be making $145 per month.

@Marielle Walter as stated above, Boston and the closely surrounding areas are VERY competitive right now - $5-600k will be tough (factor in your renovations after purchasing too). 

This is not be a personal purchase but rather for the company I work for, so we will also have the cost to build and impact fees and such. 

Are there other factors we need to consider?