I'm located in Southern California. 

.: @James WiseI think part of the issue is that, per 2016 Brandon Turner, every property cash flows $250 a month forever, and so there's no such thing as a $5K turnover I've had rental properties for 14 years and never even had a $1000 turnover Then you havnt owned in Detroit, Baltimore, Cleveland, Toledo, Kansas City or any of these other Class D tenant locations.Hey I dont either, I own Class A/B properties in Class A/B locations of Class A/B markets.

Secured personal and family funds3.

This is helpful is you want each property to have a different account and have separate account(s) for security deposits. 

The home itself is in a great location in Seattle, but very dated and needs a lot of work.

My plan is to hold onto it as a rental property, targeting Section 8 tenants, as the rental income is quite attractive at nearly $1,500 per month.Here's the challenge: The property's purchase price and labor is below $40,000, and I'm uncertain about my ability to secure a traditional mortgage for a property at this price point.

She is insistent on using her security deposit as last months rent.

I am an out-of-state investor interested in purchasing a duplex (2 bedrooms, 2 bathrooms each unit) located just a 10-minute walk from ASU.

Location doesn't really matter, but if you are in Seattle area,  I would love to meet in person. 

I terminated the deal because the Seller had been so difficult I did not feel secure in paying the upfront prior to closing expenses.