It is challenging but we committed to going there every 4-6 weeks and having a great team on the ground ( will cost you some extra money) but they are the difference in having issueswe have one of the best cleaners in the area and our guy that cleans the grills does all my light maintenance and guest interaction if I need it(pets, too many guests etc.)3-4 hours would be a dream and you can definitely do it but you have to commit to going there every 4-5/6 weeks In my opinion because there will be things you need to address or upkeep- this is obviously only if you decide to self manage. 

I basically offered to pay closing costs and seller to finance the downpayment. 

Say I have $35,000 in a HYSA that generates $150 per month in interest. If I invest that money into a rental property that breaks even, wouldn't I actually be cashflow negative $150 per month now that I'm not getting ...

Keep it in my name and divide the electrical cost by three each month and have them pay me? 

It will be a costly full gut and remodel when he moves out.

We build houses for $75-$85 per square foot which is our cost to build and we sell that for $150-$200 per square foot, sometimes our margins are much slimmer depending on the finishes of course.

Could you provide granularity on costs segregated and potential assets?  

Based on our calculations for repair, carrying cost, closing cost, the all in cost will be 283K.

The cheap homes look good on paper, but cost a lot more as they often attract less desirable/more problematic tenants.

Operating Expenses (other than management fees): Estimated operating expenses can deviate significantly from one bidder to the next.Cap Ex Costs: Estimated improvement costs can deviate significantly from one bidder to the next.Rent Growth: Estimated rent growth can deviate significantly from one bidder to the next.Cost of Debt: If debt can be assumed and is cheaper than the current market, most bidders will share same input.