But the fact is, in the long term, if you own property then your money has a constant and safe return on investment.In a bear market, investors worry about the value of their investments.

I’m an OOS investor and I’m sending my realtor over to inspect these properties to see if either one would be a solid addition to my portfolio.

Instead using the tax to work in your favor to purchase larger nicer property/properties. 

This will demonstrate how the property performs as a pure rental, and it forces you to save.

My husband and I purchased 3 properties in CA over the years and recently exchanged into 6 rental properties.

Financing options up to 85% loan to value are available on 1-4 unit properties for an investment transaction.  

To have a strategy in place on how to set up times for end buyers to walk the property and have a strategy for how the winning bid will be accepted.

It’s going to be hard to get more than the property’s worth.

In the city of Detroit income tax is very cheap and a cash cow for investors who find a good property.

I think you have about 90 days to move into the property for an owner-occupied loan but I am not sure if that differs between FHA vs. conventional - @Zack Karp or @Jose Valdovinos could confirm that...Either way, I'd follow the advice of others above...give the seller two or even three separate offers that work for you.