You need to factor for advertising, lease signing, background/credit checks, etc.

The bank wasn't allowing interior access, but I was able to talk to some of the neighbors as well as the previous owner, and found that this home (and the subdivision) was badly damaged by the floods.

I have given them the option to give up the unit within 7 days in good condition in exchange, I will void the lease and take no further legal action providing no major damage is found.   

Other thing to remember too is, as a college kid who did a spring break in Myrtle beach, be prepared for some damages.

I'm in the process of evaluating a low income housing tax credit property for potential investment. 

Looking at an off market multi family that suffered fire damage last year. 98k value lot.

Elements Financial, KeyBank, Energy Plus Credit Union.

Part of the impact is my credit was shot and I am rebuilding it.

Depending on what type of underwriting method a Mortgage Broker found most suitable for your scenario + your credit score, you could get slightly lower interest rate although 6% is a good number to plug in to be conservative.  

If you have the down payment and just need someone's credit let me know.