They have come to me about buying the home but I have a collection account about to fall off my credit in a few months so I am not sure I would qualify (in addition to my income may not be high enough).Are there any workarounds to maybe purchasing the home?

Best option: don't invest in areas with high crime.Security cameras, motion-detecting lights, and plenty of signs that it's protected by a security system.

Quote from @TJ Dittmar: @Jaycee Greene not quite that high I'm seeing comps in that area averaging $1300@TJ Dittmar, got it.

I highly recommend starting with a basic househack, easy barrier to entry and gives you a crash course in being a landlord who lives on site.

That kind of relationship will help things go smoothly, both in the planning phase and the handoff from when you buy to when your PM takes over.

It was high risk and it was my fault.  

It sure seems like if this was a tv show those two had a secret relationship.

My interest rate and purchase price wouldn’t allow for positive cash flow unless I charged an unreasonable rent—or put about $500K toward the principal, which isn't ideal.I’m a high earner, so I’m weighing my options:Take the loss ($60K-$100K), buy another house, and chalk this up to a hard lesson learned.Refinance, put more money into it, and rent it out long-term—even if it’s not immediately profitable.Invest my money elsewhere and try to make peace with staying here for several years or just move.Would love to hear thoughts from anyone with experience in real estate, financial strategy, or noise mitigation.

Although it may look good on paper, the tenant quality might not be great.

I invest there ,I have a bounch of high end houses for executives and also middle income duplexes and triplexes.