Look for properties with low taxes, separate utilities, strong demand, and potential for rent increases.

The only things that matter are credit, down payment, reserves, and DSCR ratio! 

The seller becomes the bank and pays capital gains one time on the downpayment (which keeps it low to make sense for them) and then also monthly on the payments (also incentivized to just match how much he wants a month).

They have told me that assuming credit, debt, etc check out fine that I will have enough equity in the land to make the downpayment for the cabin that I want. 

I did hear back from TrueBooks and they had my return ready for me to review, but there was a tax credit missing, so we’re back to waiting for them to make corrections 😫 

If you've got people fighting over your listing and competition trying to get into the unit, then you're too low.  

Get a free report from the credit agencies.

While the property hasn’t appreciated much since purchase, we’re considering keeping it as a rental due to the low rate.

That is a fairly low priority issue for the Detroit police. 

For $50,000 you can have a turnkey low-income Section 8 rental property that generates $7,500/year in NOI.