This is a loser.I would buy in the lower to middle range to put money away and take care of bills. 

. $500-$600 range is what we pay for a single unit property here.

@Ben Leybovich and I will spend dozens of hours underwriting a property before determining our price range. 

My idea is to find a property in the 150k range with about 35k worth of repairs.

Keep in mind also the FHA self sufficiency test for 3-4 unit properties.

(real case)But I'll take any day someone who filed bankruptcy for medical bills - people not going to die because they were not able to pay $100K for a surgery.That's why I meet every tenant and talk to them about everything: job, family, dogs, weather.....lolI want to get their character and life in general.I almost took application from a woman - she was nice and sweet and her income was sufficient with no evictions etc.

The issue is I'm self employed and everything is written off, my credit ranges from 750-790 depending on the credit card miles game.

I also primarily target retirees and seniors.I usually advertise 2 months ahead of a vacancy allowing applicants sufficient time to give notice to their landlords.

The hard part is keeping it in the price range in mind for what we can afford and what is a good deal.

All that said, I would think most would be in the 8-12% range.