Rent is not just for room and board, it encompasses many other things as well.

Seller Financed Terms:Sale price: $165,00015% upfront cash deposit and $1538.27/month for 60 months with a balloon payment due at the end of the term.Interest rate: 2% The monthly payment of $1540 would encompass the principal, interest, taxes and insurance.$553.35 would be applied to principal$153.37 would be applied to interest$831.55 would be applied to taxes and insuranceTotal payment of $1538.27  or $165K for the building with 15% down and $1525/month for 48 monthsGross Annual Rental Income = $37800 or $3150/ month Annual Operating ExpensesTaxes & Insurance $9978.60Water/Sewage $3600Waste Management- $1200Gross Annual Operating Expenses = $14778.60Net Operating Income = $23021.40Or $1918.45/month in positive cash flowCap Rate = 14%I'm thinking of trying to negotiate the purchase price down a bit as $165 is above market value.

Encompass, Allied and Safeco.  

Zip codes can encompass A,B,C, and D areas. 

Utilities setup - who is responsible for whatFuture capital expenses (ie removing carpet, redoing a porch, etc)Taxes- if the property is rehabbed is the new tax rate encompassed in your numbers?

Though I've been leaning towards multi-unit, given the market and lack of capital, I'm expanding my outlook to encompass SFR too. 

I am in a fairly rural area and travel about a 15 mile radius from where I live (which encompasses almost 30 different towns) for my local farm.

When you really understand your market, economic forces, risks, risk mitigation, projections, financials and everything that encompasses your deals, it will be blatantly apparent to someone.

@Damian Robinson 46208 encompasses a few different neighborhoods which vary greatly ...

So real estate speculators would be my answer for people in that space.So for me, at this time, my broad-base, all encompassing definition of a real estate investor is 'someone or something that commits material financial resources (and possibly additional non-financial resources) directly "in play" in a real estate activity for an anticipated gain.'