We like the factors you mention...the sales price range is more affordable than in "SF proper."

looks like you'd come out with about $28k after closing costs and before your debt is paid off, if you are only using that cash you could purchase something in the 110 range, like a condo to use as an investment property that will rent for about 900-1200/month. if you choose to rent it out i'd definitely go down to a 30 year mortgage so you could drop your expenses significantly. how much debt is against it?  

What can you get in the $120k -$200k range, the middle class areas that are safe are almost always the best options.

I've been crunching numbers at my computer the past several minutes - tell me what you'd do in this scenario:-6 properties for sale (mix of SFRs and duplexes)-Total asking price for all 6: $104,000-Repair ranges (based on $15 [minor]-$20 [moderate]-$25 [major] per sq. ft.

. $60-$80k range. 

A year ago, I opened my own real estate brokerage, and last year I completed 45 transaction (most of them in the 60k range, on average). 

Let me know in the comments what price range you use to estimate rehab costs.Thanks.

The phone rang, it was the sellers answering the question.

Most of your single family homes in $87/ sq ft. range will most likely need some renovations but would be closer to B properties for that purchase price. 

I do feel I jumped the gun on the offer, not having all the information, however, I feel that this type of calculation 'guesswork' is common - especially when dealing with owner paid utilities (which is almost all that is available in my area in my cost range).