Additionally, trying to spot paint even a white wall with white paint doesn't work, let alone other colors.

I did have experience operating LTR's to bring to the table, but even if you don't, it's not that much more complex.

The reality is that you will not find that in the seller finance space, and even if you do, there will be virtually no discount. 

So, there is even more risk.The things that you can do, include being properly capitalized, not be greedy, (in whichever way that may be defined in the county you are buying), know solicitation laws, know Dodd-Frank, the Consumer Protection Act, the S.A.F.E.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Quote from @Joshua Janus: Cleveland, Ohio is a great market to focus on for cash flow and specific pockets have gone up 2x and upwards of 4x in the last 5-10 years even!

Even if we provide you with an answer to this question, there may be other laws you are ignorant of.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Best advice: don't get emotional about a deal.Found first deal on MLS, but have found stuff on FB, Nextdoor app, and even yard signs! 

In your case, you are probably better off buying a break-even deal in Tampa then a deal with $200 cash flow OOS.