Haha...for the record, I was not offended and don't equate this to problem tenants. 

Assessed value is $172K    Taxes are $2,000/yearRents are $950 each side (with potential to go up slightly)Trying to get it for $200k with 15% down ($30k) on a 20/year loanPayments with insurance, taxes, etc. are about $1,250/monthMy thoughts are I would make about $660/month after everything is paid, but I'm sure I am missing something in this equation.

My best suggestions are to learn all you can, read a lot and join some meet up groups, don't pay anyone anything until you've gotten a good knowledge base, and try your best to take emotion out of the equation.  

Then I created a Trendline and the Equation of that trendline in the chart (see image below).

That said, I've found that everyone in the business knows very different facts/sides of the equation. 

Saying that people change it is like saying that you do not want the seller to pay the markup on the new counter tops they put in and you want some of that out of the equation.  

I equate these type of people to m y parents and would be PO if someone pulled this whole mess on them.  

Real estate done right and to make any kind of bigger money there are two ways to do it basically either well cashed up company with divisions in the company to make you successful which usually equates to minimum of 10k to 50k or more a month in fixed overhead..

When analyzing potential rentals, do you take your own must-haves out of the equation? 

Once again you and he can create a multimember entity that can take title to the two houses and add you into the ownership equation.