Some have time restrictions that make the deal not worth doing.

I find it odd that while the lease is for one year----within the lease agreement it states the renters "may cancel the lease agreement" for 1 1/2 months rent.   

And, if "rental assistance" is code for "Section 8," then the odds of this working out favorably for you are virtually zero.I'd keep looking.

Oddly that provides an opportunity for good deals in that range. 

What are the odds? 

As a word of caution before making a deal on a property with an HOA check to see if they have any restrictions for investors.

I only ask because my experience so far has led me to find a lot of rental restrictions with most condos complexes.

@David Goldstein I don't know of anything definitive, but it seems Providence is moving in the direction of other cities with heading toward restricting AirBnB to mainly owner-occupied properties and requiring registration/permits for AirBnBs. 

And yes... very sweet :-)In my mind, trying to find a place that's going to appreciate is a LOT harder and I would move from "investing" into "speculating"  There's nothing wrong with hedging your bet and doing your research and trying to make sure you're not going into an area that's *completely* going to tank, but I've found that when you start speculating on future prices, you start down the path of just what you described... one piece of information says this, another says that... and they're both at odds with each other. 

Coin toss if a normal owner is up to date on his income taxes, what do you think the odds are if someone is selling for below market value and "needs" to close in 17 days?