Hi @Marcel Galega,I think your CapEx is a little low (it is a SFH right?).

Especially if you are looking more for mid or low end.

I'm ok with tenants leaving because rents are low and this gives me an opportunity to renovate one by one. 

My options are Make offer stipulation I can get financingWait and hope it doesn't sell and remake 40k offer with owner financingObtain private loan (already tried family and friends, all too risk averse and uneducated) make low cash offerFriend of a friend put me in touch with some bigwig hard money lender with a legit company.

I'm still working out my philosophy but here's where I'm at right now:I'd like to keep all personal liabilities (non-investments) as low as possible.

I don't really think this area is for new investors even though purchase prices are low, but if done correctly, you can definitely cash flow out there.

Not to mention you have a crazy low loan.So unless this is a cheap (sub ~$150k?)

You would need a good property manager to screen tenants to keep vacancies low.

Well if the value of the property is $250k, and there are 10 offers, then even $240k might be too low.

The reason I suggest that for you is that it would allow you to get into a deal for very low money down...you could even use a VA loan for nothing down and have a huge reserve.