Welcome to BP.Hang on tight and enjoy the ride.It sounds like you plan to buy and hold as rental property.If you expect $19,200 for rental income, then 50% rule says to expect about half of that to be eaten by operating expenses NOT including the principal and interest from mortgage.

Most of the cities I mentioned are a few miles away from where I live about 5-50 miles away.

All of these areas are within 125 miles of me and all are bigger cities with colleges.

I have bought 2 properties sight unseen 3000 miles away and have had no problems but I had trusted people look at them for rent ability and property inspections done as well.

If you can get rents to average....700* 4 = $2,800/mo $33,600/yrTaxes - $3500/yrWater - $600Garbage - $400Vacancy Rate - $2800/yr (this is extremely conservative, could maybe be half of this depending on turnover rate)Cap ex - $3,360 (10%)Repairs - $1,680 (5%)PM - $3,360 (10%)Insurance - $900Net Income - $17,000 ( Divide this number by the desired cap rate and thats what you should be ALL-IN for) If the cap rate for the area is 5% then you could be all in for $340,000...theoretically speaking.

I have a number in mind.Here are some numbers:4bed/2.5 ba, over 2100+ sqft in Spring, Tx.Zillow Zestimate is $1500/monthCurrently on the market:4bed/2+ ba homes are for rent at $1499/mo (1789 sqft) and $1450/mo (1740 sqft)  within 1 mile radius of my home.3bed/2 ba homes renting1229/mo (1718 sqft)1400/mo (1735 sqft)1300/mo (1504 sqft)1500/mo (2,199 sqft)1495/mo (2048 sqft)1495/mo (1588 sqft)1500/mo (1798 sqft)What price would you rent my property - 4bed/2.5 ba 2100+ sqft?

Half of something is better than all of nothing!

I would even be willing to go in half because it would be a selling feature for future potential renters.

You may just have to go the extra mile and deal with the situation yourself rather than depend on the banks, or sellers.

It could save you half of what you quoted.