That may be totally reasonable with updates but generally, the neighborhood and amount of square footage is going to be a huge factor in what you can get for it.

I am 25 and have been wanting to start investing in rental properties for awhile now...my issues holding me back is 2 very major factors, credit and money!!!!

Are you factoring in expense from the gross rents minus the payment?

I looked at a few properties in the past to do this and although they were okay deals the insurnace on the mortgage tended to really be a factor I didn't want to be stuck with for the life of the loan. 

I drive a lot of miles, so I also had to factor in a car that can handle the miles.  

Interest rates, market fluctuation, local factors ... once you start, you're committed to a multi 100k project and there's no turning back - it's hard to know where all those things will be 12 months out.3.

Think compensating factors with derogatory information obtained, the source of it, weigh the validity of the matter. :)

You're spot on with that approach, but determining the outcome (accurately factoring in the profit potential and required time) clearly involves some significant experience - not the kind of thing I should attempt to plan for.

So, factor in additional holding time for the sell, because your pool of buyers is smaller.  

Barbara G.Right, many factors to consider...