This vary heavily town to town. 20% down is great if buying strictly as investment but if you have a way of owner occupying I would explore that route and apply the 20% down to increasing value of property and instead using low money down loan. 

Might be an additional cost there.If units are updated, capex items look good, leases and tenants look solid, and there are no other regular expenses besides the 5200 in insurance/property taxes then I like this deal.  

Thank you for the great information. 

@Luisa Morejon this is an easy one!

Is this normal?

I am exploring options - sell his place, use is as a rental or take some equity out if it to purchase another property (I was thinking maybe a short term rental on the lake)?

We currently stay in Miami and prices here are very expensive i do want to stay in my backyard but prices are extreme  so i would love to explore some out of state markets ! 

For markets that are "cheap" and provide cash flow on day one, there is a reason for this.

I had seen the article last week and it is very informative for a remote investor.

I’m still learning myself, but I’ve found that connecting with other investors and figuring out which areas of the market to focus on (like distressed properties or foreclosures) can make all the difference.Are you currently looking to jump back into investing, or are you exploring different strategies at this point?