A few examples that you can explore directly....1) Is there biological resource value i.e. wetlands or other 'special' habitat?

I purchased for $255,000 and the home was just appraised at approximately $505,000 - $525,000.My wife and I are currently exploring the option of selling and taking the profits to purchase two homes, one to rent out and the other to live in.

@Andrew Pfleger perhaps explore a combination of seller-financing as equity, then bank debt the rest?

I pulled comparable rent data from rentometer.com.

I pulled comparable rent data from rentometer.com.

Second, it seems from your question that you want to explore alternatives available to you. 

Most importantly, after having helped tens of thousands of investors with data and advice, I can confidently say that you just looking for "a deal" isn't enough - this business isn't a get rich quick scheme, there are no magic lists, no perfect letters, etc.

You can review the tax rates here: http://www.municipalfinance.ri.gov/documents/data/taxrates/2017-Tax-Rates-12-31-16-FINAL.pdf

This information is based on residential data only. 

I should have 10k cash soon to save toward either down payment or reserves also.I'm also exploring the possibility of FHA loan and living in it a year, while fixing.