I think that if I can come out of this and produce a nice rental and stay within the $50k-$60k range that this would be a great income producing property.What does everyone else think and what other things do I need to consider given the details I have provided?

price range? 

Just trying to get a sense of what criteria you're looking for, price range, area, sq footage, cap rate, etc.

Get more details on the "domestic dispute" as that's vague and could range from a trivial disagreement to domestic violence.

There is a wide range of different customer profiles for each area you listed.If I was in health care, I would try to find pockets near hospitals where there are more like minded people wanting to be close or within transit of the medical centers.    

Obviously, I do want to maximize my returns, so I looked up rent rates in the area on multiple sites, and they are in the 1150 -1500 range depending on the condition of the unit.  

I'm looking for a duplex or triplex in the $100-150k range.

Hello Amar,I know of some great opportunities in your range.

Also contact local investors, realtors, property managers, which you can do here, to gauge what are typical returns in your area.In my area, typical cash flow can range 150-300 per door, 25-30k total per unit cost, 70k appraisal values.

@Inaam Salik way out of my price range for flip/rehab.