I'm hoping I didnt make a mistake with these numbers but assuming proper assessment of the local market, jobs/population growth, property condition, rental demand, future appreciation etc., is this something that sounds within acceptable ranges or am I missing a piece of the puzzle here? 

I was able to get into this by networking with some very smart and talented people in the local market and banking.

Get out and rub elbows with local investors by joining a local real estate investor group.

I hired a local contractor to add TLC to the property.

We've seen this in the Raleigh MSA as well with large, regional and even some local builders offering rate buy downs.

Have no real formal training, on subto I would have a local attorney put it together for you.

I was getting interest rates that were slightly over 7% for a fixed, and I recently learned about the 5/6 ARM through my local credit bureau who I had financed my car through many years back.

Do you use an online program, and app, or someone local?

Here are a few tips to help you on your journey:Network, Network, Network: Make connections with other investors, real estate professionals, and possible mentors by attending regional meetings, networking events, and seminars.

While I've been doing research, I would appreciate a local's hands-on perspective on the state of the market and potential areas to target.