Another reason why I would like to move is because I have a 1 hour commute to/from work (2 hours total)...plus rising gas costs and frequent oil changes.

I also have a renter lined up.For rent I believe I could get $650 pretty easily based on rentometer and craigslist posts.

If all goes as planned I hope to begin investing in February (after the wedding); until then I'll be building contacts, browsing the MLS, and doing calculations on properties i find.A bit about myself; my father raised me to be independent and do manual labor myself and now because of him, I do many of the home repairs myself and like to believe I'm fully capable of being my own property manager (currently own a home i purchased thinking i could grow into).

I believe it is at least 20% these days.  

As far as raising rents, I don't believe there is a whole lot I could do.

REIC I believe would be good place to start.

If you believe that a mortgage company or bank is discriminatory towards your child, you might want to contact a lawyer.

I know roaches MAY be attributable to the cleanliness of a home, but I do not believe that bedbugs exist due to any fault of a tenant.

Still in the early stages of conversation but got some beginning information and wanted to see if this was worth pursing:Asking Price: $550,000 (I already assumed that was too high, trying to figure out a reasonable price to offer)Income: $4000 a month (believe there is potential for rent increase (waiting on specifics of each unit))Expenses: $900 a month (Water, Garbage, Taxes, Insurance, Maintenance, Pest, & Septic) Self- ManagedNOI: $3100 a monthCap Rate: 8.72%Stable TenantsDoesn't need major workGood Area, Decent SchoolsQuestions:1) What is a fair win-win offer?

@Jibreel HameedI believe you may be able to make this a profitable venture without rehabbing.