Also, try to find similar rental units in the same neighborhood to compare to so you have more of a rent range/conservative approach. 

I think you'll find that's a unique range and won't have as much competition.

@Hector Espinosa While cap rates can vary widely from one market/city to another and from one type and class of property to another (and based on the quality of the tenant), I did a quick search on LoopNet for MF properties currently for sale in SD and most "asking prices" suggest cap rates in the 4%-5% range.

Look at buying my first investment property (probably a house in the 100-150k range) and begin looking for a tennant.I can imagine there a lot of different theories/ideas with what one could do here--I am just curious to see what other people think.

Using a HELOC on Property A to fund a rental in the $150-200K range could work well if you're focused on steady cash flow.

I assume you're buying SFs in the 1200-1500 SF range and doing some light to moderate rehab, is that right? 

Just sent several clients today some in $125-$150K range, but they pretty rough, but rented at 1% rule and not in the best areas. 

It sits in the $8,900 range at the moment.

Beware that they advertise interest rates in the 2 - 4% range while the real rate is more in the 10 - 20% range.e.

i have a great property i could send you that i found has many great qualities its a cozy modern home with workshop and detached garage price is close to half a million but could very possible to change the sellers mind for your price range seeing as it needs renovations not many but still need them this property is in washington state but the area is good for selling seeing as a majority is rich and looking for nature vacation getaways right by a beutiful lake and mountain contact me if you would like to find out more i will have to note if you consider and take the property i do require a finders fee of a minimum of 500 depending on the deal