If you can get a 4 unit and a basement, that would be ideal and create major cash flow and equity creation, plus you can not worry about a property manager and boost your yield.Cap rates came all the way down to 3% (or below!)

Interest only mortgages look attractive, they can boost your cash flow way up for your rental.

One problem is; some people can breathe asbestos into their lungs every day in large quantities and they never had an adverse effect and some people only need to breath in a small amount of asbestos and they do have a serious adverse effect.You don't have the moral right to tell someone there is no asbestos in a hope without testing and the problem with this world goes back to the previous paragraph where homeowners and contractors tell their workers testing is not necessary, tell them their is no asbestos without testing and tell their workers not to worry.Here is a link about homes built in the early 1900's and an image from the link.https://www.greenbuildingadvis...Two if the images below are from business website I have since I am a licensed asbestos abatement contractor.I took the picture of the pictures with the two gravity furnaces in a home built in Beverly Hills that was built around 1908 and that was not the first year those furnaces were manufactured and installed.

That means, you'll have to boost your equity from 3.5% at purchase to at least 25% in a year.

There are properties in that price range I see them every day and under so hopefully that s boost in confidence. 

One big reason I’m trying to boost my score is to qualify for the best rate on Fannie and Freddie loans while I can.

It would be better to live under robber barons than under omnipotent moral busybodies.

You won't get 2x the boost but it may be 20 or 30%)Also note that each city is different about market share. 

@Mario Morales I agree with @Bruce Woodruff.

Marco Morales is exactly right: Look at comparable apartments and see what they (the market) are doing for finishes in exchange for how much in rent.