you will typically lose your ernest money.  

Looks like your typical marginal deal to me . 

However, Pasadena is full of older houses that need some modern amenities and features, like higher ceilings, smooth ceilings, new flooring, double pane windows, modern appliances, modern paint colors, etc. 

Find a realtor that you like and they will find tenants, do the background check, etc. with no cost to you (typically charge the tenants a 1-month fee).

An example may include the $$ budget you have, areas you like, you buy with cash or use debt (30% down +/- typically), and product type you prefer. 

You'll see a lot of the same faces,  but the networking alone is worth it and typically they are packed with great information.

Subject to, wrap, contract for deed, an option, or a lease longer than three years all typically violate the due on sale. 

With all things equal the typical break-even point is 2-3 yrs in these areas.

They are quite different than a typical lease. 3.

In the La Crosse area, typical rents are about $300-$400 per bedroom, with some obvious fluctuation by property quality.