It never hurts to put in a low offer, and try...

I will have extra savings due to my low expenses and have been contemplating ways to invest it, and I always seem to come to the conclusion of real estate investing.

That said, you can expect this property to have problems like: no functioning HVAC, electrical problems, old water heaters, low rent, old appliances, worn carpet/torn linoleum, leaks, etc.Sometimes the rents are not able to be raised for that block, or you may not be able to justify raising them enough for a good return after repairs.  

Option # 2 May pay out as low as 25% of your claim cost.So on a $50k freezing pipe claim, option # 1 gives you $50k, option #2 gives you $12,500.Not sure a freezing pipe claim can he that high, but you get the idea.

With incredibly low supply, what possible indications are there of a housing crash? 

Low minimums getting lower.   

I’m buying into equity and want my monthly payment as low as possible for cash flow.

Looking to establish a banking /lending relationship with a local bank that could possibly do better than 80% LTV on multi family properties and/or some that would have low closing cost on refinancing some multifamily properties. 

You do have to keep in mind that your interest rate will likely be a bit worse (low 5's?)

I always low ball offer properties.