@Jake Kodweis Yes, I agree with @Will Chamberlin if you want to stay in that specific area. However, I believe that you can go outside that neck of the park/east area and still find a deal closer to the numbers. I think that the numbers you are looking at seem pretty realistic, it may just be hard to find in that area overall. Maybe check another area that is similar in nature to that area with higher rents and such. Maybe also do some driving for dollars as well. The Meigs area is similar to that and I think that there is a property that was off market and needs rehab. The rehab cost could be tough to get into that $7K mark though, even with doing much of the work yourself.
Another suggestion is see if you can maybe do sellers concessions to decrease your closing cost outlay to just the downpay. Usually you can either do up to 6% or a specific number. This might give you a bit more to work with at the closing table and thus reduce your cash outlay liability during that process. Just some food for thought.
I just did the above with an investment that I am working on acquiring right now. I wrote into the contract that I wanted $3K toward closing which should just about cover that cost.
Keep in mind too, the taxes are part of the closing process in most loans that you are using and thus have to be prepaid for the following year. Your numbers may be a little off because of that. That is typically why I put sellers concessions in the equation to offset my acquisition cost of that.
Hope this helps, have a good one.
