It does raise a red flag being on the market that long but if you can get it at a very very low price and your risk level can be greatly reduced and if you use very conservative numbers on rent and and very liberal numbers for repairs and vacancy then I would consider moving forward.

TJ and team earned my trust so I'm definitely moving forward with them. 

While talking about risk management may this will help: LOW severity, Low frequency - Retain the risk ( eg car dents) LOW severity, high frequency-  Reduce the risk ( eg common colds) HIGH severity, low frequency - Transfer/Share via insurance(car accidents, health problems- cancer, personal/business liability) - So this is the most imp part of risk management.

And that Carson's first act upon taking the reigns of HUD was to cancel the previous plan to make FHA loans more affordable for the working class by reducing the monthly mortgage insurance bill, meaning some % of people are still tenants today because they couldn't become homeowners? 

Simply put, you're way too big of an expense when they sell (even for reduced commission, as over many deals it adds up) and they would also get the added savings when they purchase either in the form of price discounts or getting the commission.

They were trying to get their rent reduced to $150!!!

@Shay Yehuda there is no best area, and it depends on how you want to earn your return. 

If this means I have to drastically reduce the price, maybe that’s what I have to do.  

Consider an incentive (trade) rather than a straight up discount (giveaway), either offer a lower rent amount if they set up their rent payment on "auto pay", or offer a rebate if rent is paid on time for 12 months straight, month 13 rebate they earn can be a $600 BestBuy card for instance. 

You did not explain any of your goals   That may be a decent way to start but will not earn you any money but save you some on the down payment.