This is a great little neighborhood, all newer houses (most built since about 2010) and extremely well positioned close to MSU, Old Towne, LCC, Cooley Law School and the new Ball Park. 

Renting out a unit is long ball. 

One thing you should know, Baltimore is a very hot market for investors especially last 3-4 years.Price point might be low, but there are ton of investors in 50K-120K price points, so the house you will be making an offer, or will be trying to low ball, you will have another 6-7 investors on it.Out of your list of areas, Highland Town, Pigtown, may be bayview would have 100K houses, rest is already passed that point.Hampden is the new Canton canton :D))so you need to spend time in Baltimore, and learn pocket blocks otherwise it would not be as easy as you think.

That's the amount of depreciation deduction you take every year.Unless you really have a superdupey perfoming rental, you should normally, at best, be in the break even ball park. 

If you can't I would say throw a low ball offer that puts your payment at say 1600.00 or less.now if this is a condo I would have a totally different approach. 

Trouble is we don't really have the money to put down to purchase our first home and get the ball rolling.

On the flip side, if you you are making low ball offer with inspection and financing contingencies, that could be tough. 

Stuff like that makes me so eager to get the ball rolling!

I reached out to an agent a couple days ago and he gave me some ball park rates.

Take the ball and run with it I can't commit to the night scheduled meetings right now but would love to see one going.