My question is, since I'm still a real estate virgin and haven't made my first deal yet, how should I (or can I) structure a deal here?

Make sure the product is virgin vinyl and not recycled content as there are pitfalls too numerous to mention regarding such products.

Grant Greene thanks for the guidance not to step on Kenny Oliver toes.

Hey @Oliver Salmon, this home may appraise for slightly higher, but yes, I think $149k is a fair price, not a steal.We love the house but at the end of the day, it is a risk not worth taking...at least with the way it's structured.

I am not a fan of debt of any kind, and I maintain a lifestyle where I am able o live within my means.

Oliver Posewitz is this guy a licensed Realtor??

@Eve Oliver I'm going to avoid the diatribe about not using "cap rate" when talking about SFRs, but I digress.  

@Clarence Oliver Always worth it to ask for the repair credits in my opinion.

So this really is virgin territory for me.

@Corwyn Oliver to determine the rental value of each unit and the subsequent build-out level required use resources like www.rentometer.com Obviously you need to dig out and research/google each address they provide as comps for photos and general context.