She is a grade school teacher and I am in the military. 

Out of state investing is challenging enough with A-grade properties, and top teir tenants, but it's a notorious minefield with lower class properties and less qualified tenants. 

It’s time consuming, but not rocket science - all basics arithmetic we learned in grade school. 

It also typically needs to be above grade (basements don't really qualify)I can't speak much for section 8, but I'm pretty sure that information should be public and easy to access.  

If you are in a lower rent area, I'd go with laminate (or refinish hardwoods), go with pre-made cabinets from Lowes or Surplus Warehouse, you can do a formica or butcher block countertop and builder grade appliances.

Sometimes the mls can skew heavily retail, and these avenues contain more investment grade stuff!

The property I'm looking at also has below-grade bedrooms which is a "negative" but is newer construction for the area, which is a "positive" considering most other houses were built in early 1900s -- how do you find accurate comps?

Is the lot in good shape, level and graded for construction?

However if no one got around to it and it’s just cheap grade material then I would paint it.

I'm talking commercial grade tile/carpet and cinder block walls not drywalled and painted with thick, commercial grade, cheap paint.