$20K profit with free contractor labor, your time, risk, etc. seems way too low and way too risky. 

@Robert Adams  they low balled one of my Dallas properties I just would not sell to them because and I waited a few weeks and got 25k more.but its the power of radio marketing at play.

We're 70% surrounded by flood planes and the land that is build-able is going to be extremely tough to get from the farmers owning it, plus the 2+ years to get the city to build infrastructure to it.

I live in Crown Point and I know the market extremely well.

At What Rental Amount is it Too Much Work to Manage?

The place is a dump with very low quality tenants.  

Anyway, I'm just checking the other houses in the area to see how much they've sold for and low and behold the city owns 9 of the 14 houses and 2 empty lots in one block!  

However, I hear all the time that interest rates are so low that it's worth it to finance real estate with debt if possible.

While humorous, it's been problematic for me because it's made is extremely difficult to figure out what to do with my life.

My idea of getting into real estate investing was coming up with 20% of your own money (that's 60k where I live for a low end property), traditional residential mortgage, net maybe $200 a month if I was lucky and repeat the process when I came up with another 20% until I had maybe 40 properties.