Congratulations, you get to share your partners tax burden and pay the depreciation recapture at ordinary income rates. 

I believe it is 50% down, rates around 13% and term around 5 years.  

They look solid and well built, it's the high crime rates and the developing area thats my worry. 

With those kinds of rents ($5,800 between the 2), even with a 9% cap rate, in my opinion those properties should collectively appraise for nearly $500k.

I'd strongly recommend against a single family home and only target properties with at least 2 units otherwise it'll be difficult to cashflow in this high interest rate environment unless you plan on using a large amount of liquidity in the purchase.

We also have many unique buyer incentives where an investor can get up to a 10% price reduction to come into immediate equity, or get that 10% as a cash back at closing to reduce your down payment and increase your ROI, or buy rates down into the low 4s on 30yr loans to maximize cash flow.

Especially in today's high interest rate environment, a low income buyer is usually going to be better off renting than buying.

Prior to viewing with clients, I am usually have an idea of the general area, vacany rates, market rents, and property types that suitable for LTR.

I also have no interest in being in the car wash business, or the laundry business, or the AirBnB business, things like that which seem to appeal to a good number of people, but not me.I like to KISS, and just focus on market rate rentals, 12 to 18 month leases.

If I purchased a home locally I’d have to ask well beyond the market rate on rent just to break even.