In order to conserve capital on my end I have a couple people that are interested in helping partially finance the down payment.

I figure the ARV to be $115K conservatively and $130K on the high side. 

First step is always the hardest so securing a strong team of like-minded, hard working people is primary on my list (but I’m patient and conservative).  

Also work on the rents and err on the conservative.

His ideas on BRR and ...it's prob better to be  conservative when you start AND during this timing of the RE cycle

@Greg CallanWould not do it.If it's your first deal, there are probably a lot of other variables that's missing and your ability to comp is probably going to be way too optimistic.If you knew the market and have done a few deals there and know that you'd get some sort of appreciation or that $850 comp would actually work out or that you can somehow get it to $1050...then it might be OK.But I'd underwrite it at $750 and 60-70% expenses.A 900 - 2149 - 268 would be a more conservative estimate.Depends on your risk profile and how confident you're gonna be able to be right on the dot with your first go at underwriting a deal.

An easy way to analyze a deal is be conservative with your expenses .

@Jason DiClemente Parents did the due diligence and they confirmed it was healthy and in control...hard to shoot down their judgement given their years of experience and how conservative they are!  

We're probably erring on the side of being conservative with costs here but I think it's going to take a lot to turn this one around. 

We wanted to start conservatively even though we will be renting out our house for $1050-1150 a month.