There are rehabbed homes going for $120k in the area but I'm being conservative in my estimate as they are on a busier road. 

With a lease in place for $1500/mo, and based on an estimate with 25% down payment at 4% interest rate, monthly payment would be around ~$1000/mo, essentially all the rental income would cover the monthly loan amt and then some.

So far, I've read The Ultimate Beginner's Guide; The Book on Investing in Real Estate with No (and Low) Money Down; B-R-R-R-R Strategy; and I'm currently making my way through The Book on Estimating Rehab Costs.

Rehab estimate is about 30,000 if i pay a contractor.

My hope is to get the test report and get an estimate from the removal company on the remediation expenses.

Just make sure your numbers include very conservative estimates and the deal works even with low rents AND high economic vacancies.Also, when thinking about 15% rent bumps – that kind of increase will almost always mean the existing tenants will leave.

Without a value add, the SFR to quad purchased at retail (MLS) is cash flow negative when using realistic expense estimates (contrary to what a few people claim, but when called out on it decide they do not want to publish their numbers). 

For example I had a cameraman come out to give me a estimate on the work and I was charged for that.

Look at ARV, less estimated cost of rehab, less profit potential for investor and that is sale price to investor. 

This is my 2nd day :) Based on the asking price, I estimated it will generate a negative annual cash-on-cash return, assuming 20% downpayment.