How to make this deal work?

House 4 doors down is for sale for $230, backs to horse farm that backs to State Park.

As a new investor, I keep reading “stick to the area that you know.” Well, I couldn’t know this area better since it is literally a stone’s throw away.

Comps in this zip are up and down. New house next door to me sold for $800. Even houses in the “bad part of town” aren’t selling for less than $230.

This is a country road, perfect for somebody not wanting covenants, etc. Of course I will call the realtor tomorrow and take a walk to the house and talk to the owner. If all looks good, then what?