Quote from @Nelson Badillo: In my experience, HUD requires you to provide at least three comparable properties to justify your rent.

See, in SFR (1-4 unit) the primary driver to valuations is comp's, market sale comparable, what so-n-so sold there place for last week/month etc.. 

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I completely agree that while luck plays a role, consistent diligence is what tips the scales in our favor over time.

Go to furnished finder and airbnb to compare rents and determine your rate.

You have less control with a property like this when compared to other asset classes.The upside here is that it seems there is room for negotiation because of the below-market rent tenants.If you're looking to put down $200-250K, I would recommend looking into a multifamily property, especially one with additional income potential. 

When you compare what houses are going for in both Mooresville NC and Greenville SC and what they rent for, it may make 0.5%.

How does your property compare to local competition?

Larger, nicer homes tend to be more expensive to maintain and harder to rent consistently due to high turnover costs.4.What are your other sources of income?