Most metro statistical areas have populations over 2 million...that is a lot of "market" to pin-point a single cash flowing property...I know everyone talks about "markets" but this is not the right approach.

It is easy to see statistical data and get skewed into thinking one way or the other.

To take a income statistic for an entire country is incredibly misleading, you have to look at each city and for that matter even neighbourhood.  

@Dave Jimenez  not to be negative nelly or debby downer.. lets just talk reality much of what is bandied about on BP is fantasy..AGAIN your getting the cart before the horse.1. if your using a FHA loan you need to get prequalified for that number2. you will need to have the house up to FHA standards for the loan ( many foreclosure just fall short of this)3. there are going to be other bidders.. that is almost a given...

What that effectively means is that a NEGATIVE INCOME (read LOSS) on SCH C occurs every year -- A KNOWN RED FLAG.   

Do you have past negative history?

If its negative it counts toward the debt payment and hurts your DTI.

Lmk if it helps - regardless your return seems to be negative so would not assume my changes would make it any better. 

Just remember: most negative reviews are written by problematic tenants.

Just remember: most negative reviews are written by problematic tenants.