I think their rent is super low for the area but nothing I can do until their lease runs up.

thank you Anthony and Manolo,Manolo - you are absolutely right that we just need to accept it, we are writing it off as "school fees", lesson learnt.

Would any of you guys take a deal with this low of a return?

I waited until I knew enough about investing, to reduce my risk, before I pulled the trigger and made my first purchase.I'm taking massive action to acquire properties over the next 5-6 years and take advantage of the low interest rates.

Am I low???

You have very low end apartments along with higher end homes.

I am a retired scientist with absolutely no practical experience in real estate.

I'm curious: is FHA203k strictly for owner-occupiers, just like the other low deposit FHA ones?...

It looks like "average valued" slots in the area are going for 1000-1100.Overall I feel like the CoC for this is a little low considering the initial cash needed.

It might be cost effective to purchase another property since: interest rates are low, deals are out there, etc.