Keep in mind the vast majority of tenants are irresponsible.I personally would never invest in a SFH as a rental however providing you are prepared to leverage 80% and reinvest the profits this property for the time being is a worth while keeper for you.Tenants will beat the h*ll out of it so decide if it is long term and you don't care or sell in a couple of years before there is too much reno work to be completed prior to selling.

Purchase 50% of the duplex above and generate $150 in cash flow per month plus more equity...likely 20 to 30k.

You'll minimize your risk of failure and improve your probability of profit/success with a larger reserve. 

impact rated windows and NG/LP whole house standby generators with ATS are the new swimming pools.

Besides its a lot better seeing a surplus profit over "expenses" than a cut from "profits"

I recently came across some software called "Combo seller generator" that is offered over at Realestateu.com.  

@Lance Luvaul since you are borrowing from your dad I would suggest you give him either what @Chris Mason suggested or 50% of the profits, whichever is higher.

I own my own business but it hasn't generated income yet as it is relatively new.

It will involve months of coding, as I want an intelligent database that will automate 95-98% of my lead generation, through the use of scripts.

Here in Houston gurus, new investors, old investors, established investors all talk about the 70% rule and how in order to get a profit the "numbers" is what matters.