I have worked with a few who have had a late payment or two on a student loan or something minor, but knowing they pay their bills on time is a huge factor for me.   

@Kyle DoneyDepends on several factors.  1. 

I'm really looking for something to do the first take on a property so I don't spend time digging into deals that are no good from the beginning due do the neighborhood profile or other factors. 

I'm eager to jump in and get started but I think it'll take forever between fixing my credit and working my full-time job.

We will not be there forever maybe 2 years at the most then move on to our next hack or maybe our forever home. 

The biggest factor is time.  

Then you should factor your security deposits and several other unknowns in you purchase price.  

You would obviously have to factor in demo costs of existing structure, any environmental abatement etc, however that would be my first approach on establishing quick value.  

May want to factor in some costs to update the units if needed.

Lack of experience may be a factor as well so you don't bite off more than you can chew so to speak the first time around.