The demographics and map data don't take the students into account, but they're really what's driving the market.Low property values and ever-increasing student rents are a recipe for a market when you can pick up a duplex in decent condition for $150k, and rent it for $500/bed (that's an EGI of $36,000 annually for a 3/3 duplex).

If the seller misrepresented tenant conditions, consult a real estate attorney about potential legal action.

Your great credit, cash in checking and savings, and property ready to cash flow are the basic conditions to qualify.

Quote from @Scott Tennell: What creative financing strategies have you found to be the most effective in today's real estate market, especially in terms of working with sellers or investors in challenging conditions?

I prefer buying sub $200 in a market where median is $350k+, long as it's fair condition, ancillary/satellite MSA, because I know time will slingshot appreciation. 

Also the 1% rule is about as good as the rule thumb and not based on current conditions or current data. 

Most states allow you to enter with notice for a valid business reason, and checking the condition of a property that has been vacated is certainly a valid business reason.

Do you understand what conditions caused the issue?

As for other ongoing expenses that will really vary by property age and condition.

Trash pickup - bags on the street in MO vs bins in KSRoad conditions and plowing - better roads and more frequent plowing in KS Years of construction - Kansas is mostly 1960s and newer, MO has the older buildings - 1900s and newer.