The main reason I liked that is that the cash out was tied to the great terms of a primary home (low interest rate and 30 years amortization).

The estimate was low. 

The other, I submitted a very low offer, which was not accepted.To my knowledge, there is no way around it unless one disregards it and rents it out.

Vacancy is supposedly low.  

My recommendation would be to buy something low end and build funds, meet people, and wait for a great deal.Also, it’s much more likely you will be able to find a SFH that will work as a rental when you move out.

Depending on your market, I'd suggest Absentee Owners with Equity, Seniors with Long-Time Ownership and Homeowners with Low Financial Stability Scores.These are good seller leads who haven't yet put their homes on the market.

Your offer is only 3% above list price so I suspect you'll be fine.Second, even if the appraisal came in low, you could walk away from the contract for other reasons like inspection objections.

House is 8 years old (low maintenance). 

The reason he asked was there's a high end, and low end appraisal depending on what you need it for.Now, if it's intra-family, and you're getting it below market, to play it safe, do the sale based on the appraised amount, and have the difference handled as a gift.

A property manager cost will depend on the area I've seen it as low as 5% in high rent areas, but the national average seems to be about 10%.