If you can hit those numbers you are doing awesome. 

The property is in Bristol TN close to where Hurricane Helene hit. 

Additionally, you can still find properties for 120-180k that will positive cash flow and hit the 1% rule.

But I would hate to have you take a hit for dirt.  

Loan to value ratio: The higher the loan to value ratio (LTV) is, pricing takes a hit.

By the time I reach 20% equity (likely 3+ years away), my monthly mortgage payment will come down when I refinance, but $600 is a big hit to the numbers. 

You can get something more modern and electric.

It's a super affordable real estate market where you can still find deals that hit the 1% rule and positive cash flow/great cap rates.

Do you have a decent nest egg if things hit the fan? 

To analyze deals efficiently, focus on key metrics like cash flow, cap rate, and expense ratios—make sure rental income covers mortgage, taxes, insurance, and maintenance while hitting your 6% cap rate target.