In my state, it costs a minimum of $3500 in legal and related fees, plus (in reality) 3 months lost rent, to evict--and that's best case. 

I think a bank's minimum loan amount is going to be AFTER you pay the 20-30% down payment they will require for a non-owner occupied property.If you have decent credit, you might be better offer trying to get a personal loan, since it is such a relatively small amount.

@Sarah Dawson,  I can relate about concerns for finding inventory on what can be considered a viable note. 

This particular property was quoted at $80 per month but relatively close to what I had heard from other people. 

Looking relative to some of the properties I’ve seen in the area, 1% seems difficult to attain and 2% seems nearly unfathomable.

If this isn't something they offer it's a great add on service that is relatively straightforward, although time consuming, to learn and perform.

A lot of what you said rings true, I think what was mainly attractive about this property was the price-point relative to everything we have been looking at on realtor.com/zillow/redfin in the Natick area.

They lived there in relative peace for almost 3yrs until the downstairs tenant’s sister screamed at the upstairs tenant for playing music too loudly one day two months ago.

A lot of forum members are experts in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, buy and hold investing, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t been to it already, the Bigger Pockets blog features links to their fantastic podcast and many great articles: https://www.biggerpockets.com/renewsblog/The site has quite a few tools that can be helpful for new members.

My career pays relatively well for being 25 years old.