I've been where you are and now I own many properties out of state. 

Hello everyone, I’m new to this site and looking to learn how to buy my first rental. 

I am aiming to keep this long term.I plan on asking for repairs but I strongly doubt I will even get a discount.  

Just saying Hello to all those out there. 

I recognize that the CoC return is not as high as we'd like, but it does come with some built in equity (~$100,000)Details:- 3/2 Single family house (1487 sq ft) with a 1/1 ADU out back- Zipcode 78745- Purchase price: $469,900- Down payment: $50,000 plus CC (includes assignment fee)- Seller Finance $419,900 at 3.5% interest; 30 year amortization with a 15 year balloon- PITI $2744.02- Rental comps: $2667 for the 3/2; $1505 for the 1/1 - LTR according to BP (Total $4172)- Repairs needed - minimal, coat of paint and maybe swapping a window unit A/C for a mini split

How can I justify this purchase if the rents are this low?"

Paint cabinets instead of replacing (dependent on the area, see this work in many markets, instead of paying 2x-2.5x the cost)3.

U have all sorts of HMB on this site that broker for direct lenders and they quote 10% down 100% rehab funds maybe its just a come on and it does not really exist ????

I will start renting it out end of next month, and plan to buy #2 within the next few months. 

But I stayed out of the super expensive areas too.