I've lived in the neighborhood close to 10 years now and, perhaps naively, thought that even if the investment metrics didn't show that it were a stellar choice, the location might serve to make it worthwhile given the demand and momentum which exists in RE here locally.The analysis below shows how things look for both 15yr and 30yr financing, and I'm curious to know how people weigh that choice.

It currently rents for $850, which is under market for this neighborhood (market is probably $950).With taxes, insurance, debt service, management expenses, 10% for maintenance, 10% for capital expenditures, and 10% figured in for vacancy, I'm calculating a current cash flow of $90 / month based on the $850 rent.I know that's not stellar, but here's why I like it:The neighborhood is one of those neighborhoods I really believe in -- it is minutes to downtown, and central to major redevelopment and transit projects in my city (Atlanta), and it may just be one of these hot neighborhoods that becomes one of the great places to live.Right now, this is the cheapest on-market property in the neighborhood -- the closest comps are in the 85-95K range, and several flips (not comps, but nicer houses on the same block) have sold in the $200K range in the past month.

That said, it is probably important to understand that a high split better produce stellar results otherwise it is not worth the relationship. 

We have several friends who own investment properties and have stellar success stories, so why not us?

I really want to find a stellar real estate agent to help me learn the market and find great deals (preferably before they even hit the MLS).  

Throw out some cardboard boxes on the curb you may get multiple offers to buy em ;)  I CAN'T SAY THIS LOUD ENOUGH 2016 WILL BE A STELLAR YEAR TO SALE IF YOU ARE THINKING OF CASHING IN SOME INVENTORY GUYS!

. :) I would look at the center of town though where you'll find some lower cost, little less stellar neighborhoods but that you wont feel scared walking through (depending on your stomach) Near Downtown, UNLV and east, and on the westside from Chinatown on...

The numbers are less than stellar but if its 100 % financed then I guess any return would be a positive.  

Do some shopping and locate a decent management firm- you should get stellar service for 8-10% of rents changed.

No lender is going to be in a hurry to put out money on a property where the only people with (skin in the game) would be them (the lender) and the Vendor (now a lender through a carry-back), and the guy in control of the asset (you) has no capital in the deal ("skin in the game").Unless you have a long and stellar track record, it would be very foolish of them to make such a deal and they would not be in business long if they took-up the practice.But, to your credit, it never hurts to ask ... just do not be surprised or offended when the answer is "No!"