That is really cheap considering where I live (Dallas), you could hardly buy a single decent house at that price.

We are also avoiding houses that are dirt cheap ($20k) and areas that have a bunch of dirt cheap houses because these don't seem like nice enough areas to us.

Hi there my name is Mike and I am going to be a first time home buyer.I just got half my inheritance and want to acquire a cheap condo/apartment preferably under 100k in Dallas-Fort Worth, TX.

(Some sellers include this and this can/will throw off your analysis when accounting for rents)As always, make your offer 'contingent upon satisfactory review of all tenant leases'.

Commercial purchase prices are super cheap. 

I was able to buy them cheap and build a lot of equity which I currently gross $4,600/month and my current net is $2,800 after insurance/tax/mortgage/utilities...

Pricing materials, calling/meeting subs, multiple site visits, Etc....I used to drive by and throw out a rough price, but that was only within 10-20% of reality.

In my opinion money is as cheap and easy to come by now (and as insignificant to boot) as it has been at any point in history (outside of the textbook hyperinflation cases). 

WHile 5-6% is still cheap, its still nearly twice the rate of hte fha. 

But my fear also comes from the fact that I don't want to throw TOO MUCH of it into an investment either.