What I always suggest for folks who do not like a lot of is to borrow  no more then 60% loan to value.

What off-market really means is that the seller refuses to sign an exclusive listing agreement with an agent but tells the agent if they bring them a buyer, they'll payout a commission.

It's been a long-time dream to do a new build and so I'm actively working to find land and begin the process.I agree that the profit margin you post seems very small.

@Chan Park Hi Chan, I sense you are fairly new being a landlord.  

And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes. 3) On the other hand, I feel one of the main advantages of passive investments (via syndication/crowdfunding) is that I can hire a manager who has years more experience than I can ever hope to obtain myself.

I found this one on realtor.com by doing a search that only showed me properties with asking prices no higher than $150k

He needed to close in three weeks and didn’t want to deal with showings, contingencies, or the back-and-forth of working with a realtor.At first, we even suggested he list with an agent since he’d likely make more money.

Abilene is a great place to invest.  

Once you complete and rent/stabilize, you should easily be able to get into a DSCR loan.

Quote from @Rich O'Brien: Talk to a lender immediately!