As a broker and investor, these properties pose financial issues that are not in keeping with a solid ROI.

They're great now, but if you look at trends they're turning purple, and soon to be going solid blue, unless something massive changes in terms of trajectory.

They were constructed with 30 year roofs and are solid homes.

Keep saving until you have the cash for a down payment as well as a solid cushion to help deal with unexpected expenses (and there will be more than a few).

Solid advise @ Shavar Golden! 

I think you can still find fairly decent SFH in solid middle class neighborhoods in Indy for close to $140k, but not much lower.

After all that, make sure your rental rates are SOLID and you are accounting for maintenance, management, and vacancy in addition to your other fixed costs (taxes, insurance and mortgage).You can find more info on my link, on my youtube or facebook if you want any more help on this. 

During the working hours, I have been working with a custom staircase company building absolutely bananas spiral staircases and solid wood bathtubs and sinks. 

There might be better areas but once you have a solid footprint somewhere, inertia keeps you there). 

@Tim Emery based on the purpose of the post, looks like @Travis Sperr hit the nail on the head.In this scenario, since 20% interest and 4 points "works", is the only option for a solid deal, and 10% down is less than $100k, you're making a better return on your money than if you were to put $200k in and $100k.