You light the path.I just wanted to thank you.

Thank you @Dustin Davis and @Andrew Johnson for your replies in light of my failure to ensure proper formatting.  

You have a budget, if $1000 is the fixture budget for that light, buy it. if the budget is $200, then find a $200 light.

(Agreement was i wouldnt pay for renovations I would live rent free until I made my money back and she would sell the house to me in 2 years which she no longer wants to do which is fine but...If she sells i can get my money back i put into it)What still needs to be done, Foundation isnt looking good, structurally walls are cracking as if the house is sinking hard to explain without pictures, roof, siding, gutters, front porch, hot water tanks are old, basement floods, backyard fence is about to fall over and if it does its going to hit a lot of cars next door and she is going to be in a really bad position, and the upstairs needs a total gut its in terrible shape.

Not investing so my FB friends will say that I am a good guy until I have to evict one of my homeless tenants. ( Where is the profit)You might do so, only as a tool to present yourself in a better community light, and have a lot of taxes that need to be offset.

Currently there is a non-conforming bedroom along with a total of  1,000sqft of livable fully  finished and well lit from natural light living space, including a bathroom and laundry — and a kitchenette area.  

What you listed above puts you light-years ahead of 90% of people your age, but you came here for advice, not kudos, so let's get down to it...First, you need to decide your risk tolerance.

Prices are high (place I'm looking at is listed at 74% higher than it sold for 3 years ago) and there is an eviction moratorium that could cause a flood of properties and bring prices back down to earth.Is it silly to join the rush?

Question, when the courts open up back and if a flood of foreclosures go through, wouldn't there be pressure on the federal government to have a refinance program akin to the TARP Program (Troubled Asset Relief Program)?

You definitely do not want a flooded unit.