It’s purely a calculation of what you Actually sell it for verses what it cost to build. 

Your best conventional financing terms will be for a primary SFH, which you could always turn into a pure rental later on.

Home prices on NW side have gotten to a point where you can't make a SFH pencil, so unless it's a 2-4 unit, it will be very difficult to hit the numbers on a SFH as a pure investment. 

Well done sirI would acquaint  yourself with the math to reflect how current or improved rent and all cost deliver cash flow for the tenant or value over time in a buy and  pure hold strategy Most investors do this on their own however they love a professional who understandS how to make these investments really perform keep it up sir

I actually am in the process of selling my home in Round Lake Beach, IL I no longer live there but do get 185 a month in pure cash flow.

I've been analyzing a bunch of properties in my area hoping to house hack or purchase as purely a rental property.

But from a purely safety perspective wait-and-see is perfectly fine.

If it was just purely owner related versus the local area, then that could be a good buy.

No income or employment is put on the loan, it is purely rents  versus payments but you must have 30% for down plus closing costs, or negotiate that the seller pay your closing costs. 

If you want pure investment properties, you are probably looking at six units that go for 110-130k per unit that essentially will meet the 1% rule after you clean them up.