I am open to it- but unfortunately, I am not looking to move until another 2-3 years- my partner and I rent an apartment on IOP and we love the location and the cost is actually incredibly low which is great.

If you low-balled them, you have to be careful doing that when asking for seller financing.

These types of low down payment no equity transaction have a horrendous default  rate way over 50%  

Low risk property. 

Especially these last few years with interest rates being so low for so long, every decent asset class has seen cap rate compression for several years.

That seem like a very low for a furnished rental.   

Also, some college degrees that lead directly to jobs are low paying (teaching, social work).

.- One deal failed and the property sold in Dec, however I was not informed until Apr the following year by the lead operator.

Now he says he is negotiating nationwide deals on materials that are priced so low the quality is non existent.

The median home price is also very low nationwide which creates a low barrier to entry.