I recommend getting a few under your belt before you introduce hard money into the equation.  

We know the old measure of 2 quarters of negative GPD, but really...I did some moderate belt-tightening the past 6'ish months, as did most others I know.

Hey @Michael Modugno - That is amazing that you already have your first duplex under your belt. 

We are typically looking for a bit more cash flow once stabilized (roughly $100 min per door) and an 8% coc.With that being said assuming you don't have a ton of deals under your belt, I highly recommend throwing in an offer and going for it. 

I know how hard it was for me to get my first deal under my belt.  

Also, (3) Properties around here aren't known to appreciate well... but that's part of living and investing in the rust belt, baby.The pros that I'm considering are (1) regarding comps, to be fair, others in the area have been purchasing up properties in the neighborhood for anywhere from 50k-65k, many of which aren't as nice as the one in question. (2) I plan on holding onto this property for at least 15+ years, and I don't expect it to necessarily LOSE any appreciation, so appreciation isn't the biggest deal, and I imagine at the very least I should be able to recoup my original investment several times over.

Where is your inside AC Blower unit.

I will also second what @Ryan Thomson said about getting an investment property under your belt.

By getting a few projects under my belt I can be able to get a lower DP and interest rate with my hard money lender.Could be a nice tax write off for the time being until I pay off the principle enough to cash flow. 

You can buy large lots outside the 270 interstate belt, further from downtown.