Pretty cool.You probably won't find this type of home in Florida or anywhere where the water table is high.

Of the conversations I have had with people discussing hard money lending, some seemed opinionated in that the high interest rates and terms were enough to scare them off.

If you are in a state where eviction cost is high and it is tenant friendly you may need a higher credit score to offset default risk and eviction cost.If you are in a landlord friendly state where it is easier to get non paying tenants out you may be able to handle more none payment risk.  

It was high rent, low entry point area but within 6 months I dealt with an eviction and electrical issues.

Quote from @Tom Hall: My mortgage rate is very high  and I would like to pay some of it off, so that my monthly payments would go down a bit, I dont know if it is financial smart to do it or not?

TLDR: I don't see a reason for small landlords to use concessions - either the price is too high or you need a remodel if your unit isn't renting.

Property prices determine rental rates, which are determined by population change.

. - Prices are too high- Prices are falling- Interest rates are too high- My Cousins, Mothers, Sister told me that Real Estate is too riskyThere’s never a “perfect” time, but everyone wishes that they started sooner.

or, you can go into the high end neighborhoods where there's more margin... but probably the same level of competition as you're used to. 

Based on your numbers, and assuming you have a credit score high enough and have never filed for BK, you shouldn't have an issue getting approved for an HML to buy/rehab the property that I would estimate at about $370k-$375k (which includes 100% of the rehab costs).