Seems that is a low income area.

Install an electronic fireplace in the space so they get the ambiance and heat but not the risk;2.

I opted to go with the low rent, but guaranteed income and 0 head aches.

A place for opportunities with high rent returns for relatively low purchase investments.This question assumes you have good enough credit, debt/income ratio, income, etc that getting the loan will not be an issue.  

I wish I had been better with money earlier - I had a lot of debt which I refinanced to pay off, otherwise the mortgage would be so low now that it would cash flow easily!

Your Purchase Closing costs seem low.  

I own a lot of properties in locations that have been prime for rehabilitation and I'm looking to discuss real estate tax credits for the repairs, purchase, investment that I have made for rebuilding/repairing/purchasing those properties for low income tenants.Thanks

Many lender have a minimum loan amount of $75K, some go as low as $50K but not many.   

It should give you some of the things you will be looking at in the Homeowners Insurance process:..I can give you some general info on insuring the property: Here are some things to look for from an Insurance prospective: Any in-ground tanks (active or inactive)Any Knob & Tube or Aluminum WiringIf built before 1978, does the building have Lead Safe certificationsAny wood stoves or secondary heating units.

@Christopher West taxes and insurance seem low.