We have been talking about investing in real estate for a couple of years.

However if you have enough reserves, 6mo or greater then I'd say chance it but a couple of missed payments from the tenants and you have to foot the payments out of your own pocket.I'm all for taking risks but I think you really need to evaluate the age of the major systems so you don't get hit with a bunch of cap ex all at once as well as your reserves. 

I'd be more than happy to provide you with a couple recommendations if you need?

This is something that I have really come to realize over the last couple of months as I've been learning.I came into this expecting it to be complicated, and I am not disappointed!

@Christopher Johnson A couple of things that you should know: 1) We do not remove posts as a matter of course.

There are so many fewer properties of that size.A couple of investors who have been tremendously successful with SFH and small multi - Chad Carson, Michael Zuber.

A couple great co-living options is STR by the room, Student housing, sober living, Senior care... 

You'll still need enough income and DTI ratio to buy another property in a couple years even with this rental income.

Quote from @Pankaj Malik: I’m just really surprised that the tenant is not taking the option to break the lease break with a $ number offered (1 month rent plus reasonable amount for parts of house he wasn’t able to use) that is within a couple thousand dollars of what he wanted anyway. 

I have been listening to BiggerPockets for a couple of months now and have been doing my own research over the past several months as well.