Asking price: $49,000 Approximately 1400 square feet, so the apartments are a bit small, but has a detached garage, with an attached work shop area.Two 2/1 apartments - one up, one down.Rents are $600 and $575.Owner pays for heating oil (YTD was just shy of $1,500.)There is a common area electric meter that runs about $30/month.Taxes are $2,500 per year

They also added a detached, oversized 2 car garage in the back.

The biggest obstacle is usually the lender.

My obstacle with that may be student loans (any help with that??).

There is a lot of investment property around without that obstacle.  

I guess my question is what obstacles do I face if I apply for a mortgage with this job and income scenario?

The biggest obstacle here in JAX is lack of MLS inventory for out of state / international buyers.

They are pretty helpful but in my experience , there always seems to be hurdles and obstacles so what could take a month can be dragged out to several ( or even longer) .  

However, the lot that this duplex is on is plenty big to build an additional 1-2 units (detached from main unit). 

At the end of 2011 I bought a property in SE PDX with a 700 sq. ft. two bed, one bath house and a smaller one bed, one bath detached ADU on it.