The 350k will earn 15-20k/yr recouping a good portion of the gambled amount. if that works out do it again.

A lot of the investors that I work with will get all of their properties Section 8 approved, which guarantees the rent at a higher rate than you could normally get for it. 

I'd probably have better odds going to a casino and gambling.

If you're OK with a gamble for higher % gains, that's what we have done with a big chunk of our cash.

Normally, the net migration will show you if the property is going to appreciate and jobs tell you if the rents will go up. 

I this era of high taxes, insurance, and historically normal rates (notice I didn't say high rates as they are currently somewhat the historical norm), it's hard to do a higher loan-to-value deal and get the rents to cover the PITI + any HOA.

I am thinking normal utilities being provided in a communal fashion similar to many pitch your tent campgrounds.

Normally if you are not living in the property, you need a 20% down payment.

This is tough, eats into your margins and normally you'll pay more on your first few projects developing the relationships and it'll get more favorable to you over time.- ACTUALLY does good work.

Why would I rent to a high-risk tenant for $850 a month when a normal renter will pay $1,000?