Any other low-risk options or should I stay on the track I'm going, pay as I go???

IE dealing with low end rehab contractors.. 

I noticed that your expenses besides the mortgage seem to be quite low.

It is in a great location which has kept vacancy super low in the past 9 years we have rented it. 

This is a typical builder ploy to keep the fee low by subsidizing the HOA.  

If you find one that is experienced in investment property, they will be worth their weight in gold.It's difficult for someone to hold your hand through this process and answer your questions when we don't know you or the property.

Here's the link to that https://dor.sd.gov/Taxes/Business_Taxes/Publications/PDFs/CETGuide.pdfAs far as analyzing your deal, it's a no-go for me. 50k purchase and 20k rehab (pretty low estimate, and you have to build in a rehab contingency percentage for things going wrong) only leaves 30k for all of those costs, and with a 100k property you're looking at potentially 5-6k for the realtors alone.

I was thinking that this could all be counteracted by just a really low offer with an explanation of all the issues.

I can continue saving cash and wait for a deal or a reduction in pricing.

I believe in steady & stable growth and so my goal is acquiring one new property every year.That being said, it seems that inventory in our area like others is low and prices are getting up there.