I'm a property manager in NOVA, and I'd say 90% of my clients start by renting their primary residence that they have lived in for 3 to 5 years.

You may find in this environment you will be asked for 30%, 20 year, higher rate, which makes this deal look worse.If you pay cash....quick napkin math assuming 50% of NOI for expenses that leaves you with ~$70k which is a 3% return. 

It's good you can bring some perspective to the starting line as you are a broker.I advise beginners all the time how to start and how to set expectations.You said you came into some money, you didn't say how much, so let's say it is 100k, if it is more great, you do not need more than 100k though to get started.I live in South Jersey, property taxes are high and home values are 400k+. 

Investing is a business and the business environment has changed from interest rates to contractors to tenants.

debt coverage is a greater obstacle...than appraisal at 75-80% LTV" - 100% agree...DSC is determining loan proceeds in this high rate environment, not LTV.

Hi Margarita,I currently live in Yuba City.

Hi Kirschlan,I'm originally from BR and live in SC now.

She lives alone.  

Lived in it for 2 years and did minor things to spruce it up.

Not sure if it matters, but I live in Washington State.