Comps came back anywhere between $150k-$340k.Current rents are low, property has 2x 3/2 and 1x 2/1.

There is also the chance that you just blow an awesome deal because you low ball too much based on what you have learned on BP without real world experience in your market.Buy your first rental properties in a way that makes financially sense - for high cash flow.

The attractively low price, oversized lot, and tons of concrete improvements made this acquisition a no brainer.

You should look for a steal in the surrounding area (you can draw a map as you search on Zillow) or try the area in the Valley Arts section of orange, its near the campus, the price of the properties are relatively low and theres a midtown direct train there (the highland park station)

Nicholas,As an investor myself and an investors real estate agent - I'd say it has gotten harder to find good cash flow if you're looking to do FHA or VA super low down payments.

I suggest you look at local tax rate, insurance carefully, utilities are low if you have to foot the bill. 

I'd recommend going with a low impact property.

6% is a little high....but without anyone knowing your debt to income ratio, your credit score, whether it is a multi or single, what your ltv on the loan is, its impossible to say. 25% down with a low dti and high credit score is going to be about 5.5% right now. 

@Roschelle McCoy I believe your tax estimate and insurance estimates are too low

@William Simmons if you are in a flood zone, your insurance estimate is way too low.