Maybe a local investor wanting a nice discount.  

I thought fair market value is the HIGHEST comps in the area.I asked my appraiser why was his appraisal so low and I gave him a couple of comps that I had to show him there were significantly higher comps in the area and he simply said that he knew something was wrong with my comps and that he did not have enough time to verify my them due to time constraints.He appraised my property for $75,000 in an area where land companies wholesale for $100,000+ and solar developers pay $250,000+.

Do you want to live in a nice home in a decent part of down for a year and then have a nice SFH as a rental or do you want to deal with tenants that pay $600 a month in a duplex that is 50 years old.  

Hello Ana,I'm Brandon from RE/MAX in Huntington Beach,CA and we're together in the same boat.I got my license in June and have taken all the basic sales training the brokerage offers but,it's truly a struggle to get started in this business saturated by both new and long time experienced money making agents.I felt the same way about feeling unprepared and still do to a certain extent but,I am working through my jitters with the help of experienced mentors.I got my first listing from a family friend who had a friend with a house that needed remodeling and repairs.I was in no way ready to handle a transaction alone so my mentor took me by the hand and lead me through every step of the way with an ease an confidence to her that she developed over time and many sales.We sold it on the MLS and had 20 offers from investors and let me tell you it was exciting to be part of it.

Not all markets or developers can provide such properties.

It's a nice area, but I would call it an area that is in decline to some extent.  

There are a few new neighborhood developments in my area in good locations close to schools and larger well established neighborhoods.

It would be nice if you could use the new cash out amount.

Keep the tenants month to month (nice that they start out that way), until you figure out if they're tenant's you'd want long term; but increase the rent to where you think it ought to be. 

I didn't just see a year form now I'm thinking what I can do in five years, I didn't want to have nice things at the time because I know it will slow down to my goal which is become financial free. 3 years since I bought my first house I was able to save all the money that I made from the duplex and the house appreciated, so i was able to ask for an equity loan, and into my second home I put 20% down payment because that's the requirement for an investment property.