My idea of getting into real estate investing was coming up with 20% of your own money (that's 60k where I live for a low end property), traditional residential mortgage, net maybe $200 a month if I was lucky and repeat the process when I came up with another 20% until I had maybe 40 properties.

Properties are generally much cheaper relative to the rent they pull in, than in NY.3) Lower fixed costs - lower real estate taxes for starters relative to your rent roll, etc.4) Lower variable costs - labor is A LOT cheaper here.  5) Less stringent code enforcement.6) Less maintenance - milder weather, and younger average age of homes make for less maintenance.   7) Diversification - low entry price to buy property allows and investor to manage risk by buying properties in different neighborhoods instead of putting more eggs in one basket.In additional to the benefits I listed above the city is growing so fast that homes rent very quickly, often times before the sale of the home.  

I asked my realtor why the low price and the previous owner owes $119k and is trying to leave the area.

I told my agent to tell them to submit it and try to sell their agent on it, selling season is over, house needs work, etc....That was last night, now they claim they have another offer that the seller wants to respond to before responding to me.

Your lender is giving you an opportunity you wouldn't have otherwise (to buy, rehab, rent, refinance and repeat) and in this instance, looks like a fair (even low) price.  

Retired people are still buying down in that area in season.  

We stopped using bandit signs becasue it cant be a real hassle and the respone rate in my area was very low.

(I'm sure you remember from the industry) The flaw with food trucks here in the Midwest is seasonality but in warmer climates it *could* be worth it.

I'm starting off as a no to low money down type investor lol with so much more to learn.

We're contemplating whether or not we should continue to use our mini electric  snowblower or hire someone on a contract/seasonal basis.