I don't need to make a profit, but I need to keep my payments as low as humanly possible, including property management fees.

Maybe partner with the seller next time or just buy sub2 if it's a low equity house.No way I'd pay closing costs twice, then a realtor, then Uncle Sam.  

This is a low cost alternative to a hood.  

Often, contracts have a seller representation that the major systems (e.g. heating system, plumbing) are in working order.

That seems pretty low.

Its a great place for cash flow and depending on your investment strategy there is a very wide range of types of investments.I have been working on the investment side of real estate for several years now and know the city very well when it comes to buy and holds.I own a few myself and have and have wholesaled and worked with a ton of buy and hold investors.You need to be careful of what you are really buy in SA though as what you are experiencing in Austin is happening here as well but mainly on in low-end properties.

You could also have a low income earner that pays every bill on time, even if they have to give plasma to come up with the cash.

Hi Taye,The tenants pay for the gas and electric.Yes I have heard quite a lot of debate on these however after speaking with a few contractors and consulting some websites for advice it seems that due to being such a small place and having only a couple of people the demand is quite low therefore it would be efficient to get one.Thanks

I have crunched numbers and offered low on some places. 

Places like South Euclid or Cleveland Heights that require low to medium rehab but no full rehabs.