Rents are generally low there as well, but definitely stable.

Damon That's the rub with low income tenants.

If my target would be low income residents, are there any grants, tax credits, or funds available to help me with the conversion? 

You want the highest quality tenant as possible & those two intangibles we find makes a difference. 

If you paid over $375k MAYBE you could keep it because the taxes saved are so low.

Mortgage rates and PMLs are 8-12% plus points right now so the deal has to be a low enough entry. 

That being said, I'm not a fan of holding property in anything sub B quality. 

I’ve already put down a $2,000 earnest deposit and paid for the inspection and appraisal.This event is unprecedented in the area, as the area is typically low in violence and considered very safe.

From there, adding discipline will get you to where you want.Instead what you're doing is advertising you have money, no knowledge and are going to have the average BP RE agent(bottom of the barrel quality) come here to promote their services with no regard. 

Install low profile LED lights or wall sconces.If this is an investment property you need to be thinking about returns.