I understand I am not the biggest fish, seeking my first property and all, but should this concern me?

This could be a tough nut to turn a profit on, and if any of the ARV numbers are wrong, then it's a looser.I think an end user (owner occupant) would see the deal as being good i.e. they are getting a 250K property for about 210K all in. 

Lots of people moving here and the rental market is pretty nuts right now and has been for a while.Clarksville is a bit further than I would want to go.

Sounds like the seller is fishing, overcharging for the idea of financing, all while offering terms that meet predatory lending aspects, probably in hopes of taking it back and doing it again, most likely just betting on no other assets from you, you'll have lending problems in refinancing, bet that's what the seller is betting on too.And, as pointed out a 2/1 is nothing to sink that much money in, don't get caught up in some sob story of her granny needing an operation right now with 25K, sell the whole place for 25K and that's not going to be in a war zone either.

I'd let them do it...bigger fish to fry.

That was when properties were going for $100k per door.But, my point is; to make the really big money in real estate you have to hold onto your money and wait patiently like an alligator for the big fish.

That whole, give a man a fish or teach him to fish stuff, you know.  

What was a quiet hidden gem of a market suddenly went nuts.

We're in a big fishing and hunting area, however not one of our guests over the last year was either a hunter or fisherman.

Since I've posted this I've spoken with a friend who said my dollar values are so small that it might not make financial sense, that reverse 1031's are for big fish, not minnows like me...The hoops required are more than a regular 1031.Oh well, I've just learned some new things about this property that have raised some red flags...I'm looking at it today, let's see how upfront the realtor is about some of these issues, or if I need to raise them.