Current situation: Early 30s, both live and work in town in professional jobs (CPA, real estate appraiser).

Please let me know if this is something you would be interested in exploring further! 

Judging how the rents are $475/month, I'm also guessing this is either a C/D area or a very small town, which may contribute to higher tenant turnover, higher lease-up times, higher possibility of missed payments, evictions, etcRepairs at 5% also seems low, especially if I'm correct about the tenant quality/neighborhood this is in.

If you want to do that in the RE world, you should explore wholesaling, that is the only way I am aware that you can still be in the game and network without having to have any money.

This is a townhome in a desirable part of town that was built in 2007.

I'm currently in a similar situation and I've started producing leads worth further exploration by finding them in alternative ways to the standard MLS listing.

@Mike Flora  in our area lots pretty much start at 100k.rural Oregon now that's a different story but the towns are so small 2 to 5 thousand population sometimes less to really not make a dent on anything.

@Joe Ellis - looks like an opportunity worth exploring more.

Hi @Jeneé Murphy,I have have worked with and know many investors that have worked with Kane Jefferies http://kanejeffries.com/ They handle deals for many investors in town and understand the challenges that can come up with title when dealing with investment properties.Hope that helps! 

I am going on 12 years active duty now, have moved 7 times (not counting in-town moves or TDYs/deployments) so get used to this process!