There are some great resources on the BP site (already shared), and reading through those and defining your goals and investing strategy would be a great place to start.This 10k house may be right up your alley or your worst nightmare.

Since you want to do buy-and-hold, listen to my podcast interview as I reveal my worst investing mistake (I bought a 36-unit apartment building) and how I turned it around (by buying a 100+ unit apartment complex!).

They are the absolute WORST lead generation company I have EVER delt with!

If your gut is indicating to offer lower...offer lower; at the very worst - they will come back at a counter offer.

I learned my lesson on a property I have at $220k...it's my worst performer (considering cash flow and COCR). 

Look over to the list of contributors on the right ---->Paul Sandhu, worst town in live in Kansas.

A good friend of mine and longtime investor and one of the wealthiest people I know has told me repeatedly that some of the worst purchases he's made were in a 1031. 

I am the worst at this.. so I sold all my rentals.. 

Ideally I would want a 2-4 Family Home where I can live in one unit and rent out the rest to have breakeven cash flow worst case scenario and a modest $50-$100 NOI Per Door - would be ideal.

I think the worst thing would be to fail the business as it could fail the town as well.