Loan Info: Owner is carrying note for $285,000 and I'm putting 50K down. 15 year loan @ 4.35% -- W/Tax, ins, ect -- my payment is @ $2150/MO.The 2 BD/1BR's rent for $600 for upper and $500 for lower (although they are the exact same layouts).

Hello @Josh Smith I agree, you best bang for the buck will be with an upper end quality condo such as Royale Palms.

Every market is different, but I look for cosmetic fixer uppers.

I just helped a couple get a fixer upper in Hiawatha and a bank owned property on the NE side in the last few weeks. 

My properties are in PA as well SFH and 2FH, rents vary 425 - SFH - 450 lower level and 550 upper level of 2 family. the SFH has a washer and dryer that is free for the tenants ( put it in when my daughter went there ) and the 2 family has 2 stacked washer dryer units, coin operated, with a coin machine next to them. both properties i pay heat, water, sewer, trash and internet, tenants pay for electric / also includes hot water because hot water heaters are electric. ( 2 family has 2 heaters, make sure you separate them.

I also am a huge podcast addict (also the name of my favorite podcatcher app). 1.5x speed, more info in less time except for music and motivational.80% is investing (BP, CFD, a few others that are just okay so far), 15% marketing (various), 5% music, motivation (Brendon Burchard), and personal interest.I'm going out on a limb here with this one, but I enjoy listening to Simon Black on Sovereign Man.

I recently sold a livable fixer-upper and my buyer was an owner-occupant, that had repeatedly struck out against cash buyers. 

Nicer upper midrange homes are in the $200,000 - $300,000 range.

I just saw a 4-unit on Comfort street that seemed interesting.I looked a lot near park Ave (so upper Monroe/East Ave), and there are a lot of options there.

@Lisa Hill,  I suggest you plug "Note Flipping" and/or "Jerry Norton" into the search window (upper right ) and there are several threads which address this question.