The property is only ~25 years old and with some cosmetic updates could rent for $850 each at least.  

Sweat equity mostly in cosmetic renovations, few major renovations.

I just started reading 'Landlording in Autopilot' and just read about having great tenants take over cosmetic projects such as replacing carpet.

Cosmetic and fixture updates through both units.

Purchase price: $225,000 Cash invested: $40,000 Sale price: $326,000 I purchased a clean english tudor in Minneapolis MN, there were a few updates done and I did a light reno job on the kitchen, bath, and some light cosmetic touches in the basement.

Second, I always encourage first time investors to start with a property that needs only cosmetic work to be rent or sell ready.

I got email this AM for a wholesale deal The deal looks great, and pictures indicate that repairs are cosmetic.

Added a dishwasher (took WAY more work than I planned for), and spruced up some basic cosmetics.

I'd start nice and easy and buy around a 90k SFR with 20-25% down (the less the better) that was solid and only needed some slight cosmetic updating. 

Corrective surgery for him is $100K+ for both ears.