I am not a fan of concessions as I believe that it will attract lower quality, shorter term tenants.

A few of them also mentioned that they don't really expect this to affect the housing affordability in the county, but do believe that STRs can affect the quality and integrity of the neighborhoods in the county which they want to preserve.  

It allows you to take advantage of a low down payment loan.

Pick a market that: (a) meets this above,    (b) is a place people want to live,     (c) you have the resources to do what you do there ie PM's and quality agents. 

My advice would be to partner with someone who has additional funds so you can buy something that is of quality. $8k won't get you anything in a class B or A market with 20% down or even 10% down. keep going though!

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

Also North Providence is a great area, so you should have no problem finding quality tenants.

As you grow your portfolio, keep an eye out for lenders who offer low down payment options for investors or those that allow leveraging the equity from your existing properties to fund new ones. 

They can't assess all the subjective data like overall layout, view from the living room window, the dogs next door that bark all day, the width of doorways, size of individual rooms, quality of kitchen cabinets and appliances, etc.The best thing to do is study your market regularly.

Damon That's the rub with low income tenants.