Looking for something with low acquisition cost, and meets or exceeds the 1% rule.  

Faith in Whirlpool appliances at a new low.

Department of Housing and Urban Development (HUD) and Bankrate, the big perks of an FHA home loan are:Lower Down Payments: They typically require a smaller down payment than conventional loans, sometimes as low as 3.5% of the home’s purchase price.Lower Credit Score Requirements: They’re designed to help buyers with credit scores that might not qualify for conventional financing.

Mom and pop keeping the MHP forever and passing it onto their heirs who keep rents artificially low forever.

You can still achieve it, but finding deals that actually pencil out on all criteria (low enough purchase price, low enough renovation cost, cash flows on the backend, all cash out at refinance) is pretty hard.

My mentor told me I was still charging too low for the value I was providing. 

The program is designed to assist low-income families, and these benchmarks might exclude a lot of qualified people.That said, the requirement for stable rental and work history is reasonable, but you might consider relaxing the credit score or income requirements since Section 8 guarantees a portion of the rent.

I'm not too familiar with the markets yet but research I've done suggests that the towns of New Britain, New Haven and Hartford all have a good mix of inventory and low prices coupled with plenty of amenities, night life, cafes, etc and local colleges to bring younger people to the area year after year.

And 3 foreclosures are at an all time low because servicers and banks realized after the GFC workouts are far superior to foreclosure so at worse if they miss payments it will be like Covid these sevicers will add missed payments and extend their mortgages..

The city also benefits from a relatively low cost of living compared to other major cities, attracting both renters and investors.