If you take it subject to then you can seller finance it to him on a land contract for his existing financing.Check with a local real estate attorney to make sure all the documents are in order.If he needs to refinance to create lower payments then that would fall on you if you take it subject to.

Similar rental amounts, tenant base and housing stock with much lower pricing.What’s a good price range to be focusing on?

I can tell you most people that bought since 2018 are likely regreting now, because today price is lower than Jan/Feb/mar already...And RE is not like stock, that changes direction every day....

Often, sellers end up with less money by listing too high, then later lowering the price to where the house should have been listed at.

You want $160k she's all in at $150k, you had a bad turnout in showings so what does it cost you to sit on the market and possibly end up at $150k or lower down the road?   

Then look for something that you can buy for lower than the market but rent at or above the market.Also find out what a typical rehab would cost you and break it down by major components (flooring, roof, plumbing, painting, etc). 

I've come across a 2 unit town home, upper/lower units that was marketed at $195k.

It’s better to have everything set up before so you dont lose the initial cash used to the win bid and maybe you can shop around a little bit before to find a lower rate on the hard money.

I currently own with a partner and self manage 28 doors in a lower income area with probably slightly higher than average service calls, although not by much.

Redfin has the property listed for over 2 months now and is estimating at a lower price then what they're asking.