Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

The usual way, but not the right way, to try to buy a rental is by finding a property on the MLS, where agents congregate, make an offer and then try to get financing to buy the property.

As they see their money is safe and you're succeeding with your plans, they'll usually ask to increase the amount of money they loan to you.

This may come off negative, although it's not meant to be. 

Overall i am pretty sure that you and I are in agreement - people usually underestimate the expenses, so it is always good to err on the side of having more reserve.

There is usually extra charges on closing to pay for that service… but it is minimal.All the best!

And that balance is where the bidding will usually start.

If it were me, I'd be looking for something in that location to offset the negative impact of the casino. 

Most turnkey properties these days are usually cash flowing $200-$250 per month with 25% down.

Basically, two choices on the market:1) All-in-one units, typically used in apartments2) Separate units that are stackable - usually higher quality than #1