I would also ask them about cash for keys since I would initially offer the tenant this. 

Could the seller provide you with a note for the down payment and you pay him back?

I can only speak to Milwaukee, but on average the three distressed properties I have purchased over the past ten years have appreciated an average of 200% all while providing steady cash flow.  

Our ability to offer cash and close quickly gave us an edge, allowing us to secure the property under market value and position it for a seamless resale.

@Shayan Sameerif you are putting down 20% cash but borrowing 80% from a HELOC, i still think you won't cash flow.i also get nervous when people throw out entire states. 

Whether you’re targeting strong cash flow or long-term appreciation, understanding the dynamics of each neighborhood is key.

I am wondering if anyone invests in this area can provide me with some referrals?

Strategies like living in a duplex or triplex, adding an ADU, or renting by the room can help maximize cash flow while leveraging FHA or VA loans for lower upfront costs.

We would need to know your current operating expenses (and rent) to be able to provide any suggestions.

Purchasing a property for your child while they attend college can be a strategic investment and a great way to provide them with stable housing.