I'm having trouble finding an end game for this one and would hate to let another opportunity slip through my fingers as I have spoke with a lot of sellers but have not yet closed a deal.

My Dad is my Attorney and all I hear is horror stories about bad renters so I have tended to stay away from the rental game.  

I see you're interested in the long game.

chaz, I wouldn't even know what to bring, like I stated, I'm new to the game.

I've given myself a time period of 5 years to make this happens as I have a primary job in which I love and want to take my time and really understand what I am doing in the RE game. 

@Darnell Palmer Lenders want you to have some skin in the game if it isn't a primary residence.

If you got a 30 year note you might consider throwing an extra hundred or 2 towards your mortgage over your payment amount, it will make a huge difference early in the game. 

@Natasha Wade Ok I did not comprehend the OP was talking about just being able to Look at the home.That falls on the RE broker to Vette his client... and newbie agents can really waste time with tire kickers and those that talk a great game but have no funds to back them up.its part of the maturation process of an agent.

Don't be afraid to bring in a basement foundation repair company and get a quote to get the issues identified and fixed. 20% of 110k =  22k Down110k - 22k =     88k  Financed88k @ 4% for 30 years ===  Monthly Payment of $420  (principle and interest)Other Numbers you'll need:Property Taxes  (get on the county website)Insurance (just call an agent or ask owner)Repairs    ( Really depends on condition of property, 10-15%)Utilities    (get as many months of bills as possible)Property Mgt (even if you plan on doing this yourself)vacancy     (depends on market and property, 10%)LawnCap Ex    (depends on property but sounds high on this building) 15%These are VERY VERY rough numbers but lets look anyway...Gross Rent- 22,500 (assuming all 3 are rented at 625 and no washing machine income)ExpensesP&I-          5,040Taxes-      2,200 ( I figured 2% of home value)Ins-           800    Repairs     2250     Water       1800    (150/mth)          Look into heat billVacancy   1125Prop Mgt  2250Lawn         300Cap Ex      3375Total        19,140  22500-19140=  3,360   Cash Flow YearlyInvestment of 22,000 /  3,360 = 15.2% ReturnPlus tax advantages, paying a little down on mortgage, possibly appreciation, learn a lot.Location, Basement, Local Market, Comparable properties, and firming up numbers ALL need to be looked into.Let me know what you think! 

I'm game to try anything.