I guess I was looking at this as a low-cost of entry type of property that could provide some cashflow.

You need comparable sales BEFORE you spend $175 or the appraisal will come low to your expectations.

And I buy the seller carry back notes for those that want to cash out.I agree with jack Bosch I saw him at a rich dad event and his stuff was very dated.Its not a complicated model you buy low sell for more..

You decided to invest in a property in a low income market.

In some very attractive markets like coastal cities I can see it being worth it not to rent the unit or rent it only under very limited circumstances in the low season because the high season is just too lucrative to allow anything to affect those bookings.

Why would they make an offer for seller financing with a low downpayment but show they have $700K in the bank.

Just the last 20 have been so abnormally low we have gotten used to that normal.Folks also forget what started us on the ultra low rate cycle for  the world economy to crash in 2008. 

It's very hard to win with low money down in Northern NJ.

Given the high interest and the purchase price isn't low, the cash flow won't be as nice as my other rentals or other options in a different neighborhood. 

For example a price below where I think it will sell for, attracting more Buyers, but not too low where I'm doing unnecessary work filtering out Buyers who don't understand the market conditions.