It could be 50% high, 50% low or right on the money but no matter which of those three it is makes no difference.

This is pretty clean.Scenario 2:  Your partner has owned the house for 15 years and has been taking accelerated depreciation, so the book value of the house is very low. 

Low insurance" is concerning to me, as Athens gets a LOT of high wind / weather / tornado activity for unknown reasons - they just got hit again last weekend. 

Because of that low barrier to entry, plenty of investors from all over are looking at this city.

Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

Quote from @Michael Daniel: Purchase price 70k currently pulling 900 rent ARV 110 - 140k, rehab about 25k @Michael Daniel That rent sounds too low for that ARV.

If they are low balls then usually you are asking someone to work for free as the fix and flip landscape is competitive for a low pay out.

Low end MFH is overpriced for the current rent amounts. 

Or maybe you finally want to purchase a multi-family complex / self-storage facility / car wash, etc.

House hacking a duplex is a solid way to get started in real estate while keeping your living costs low.