If you are paying for utilities then this might work to your advantage or you can just go a little bigger so they can take comfortable showers.

The biggest advantage you can have is a buyers agent who is experienced with remodel and renting - you will catch 95% of the issues at the showing; the inspection you do after you have an accepted offer is an extra precaution at that point.

Although buying all cash does offer an advantage, you can still find good deals using financing as well! 

Put a LOT of $ into the property and was also able to take advantage of grant $ that came into the neighborhood.

I make about 50k a year, and I have some savings that I want to put a tax advantaged account.

Self-directed IRAIf you are self-employed with no w-2 employees, you can set up a Solo 401k & rollover funds from a non-Roth IRA as a tax-free direct rollover and then invest in real estate.A Solo 401k has several advantages as compared to a Self-Directed IRA including the following which specifically apply to your situation:Unlike a Self-directed IRA, you can have the account for the Solo 401k at a bank or brokerage that does not charge maintenance fees and where you will have checkbook control.Unlike a Self-directed IRA, if you use leverage (which must be non-recourse financing in either case) to acquire real estate with your Solo 401k the income will not be subject to Unrelated Debt Finance Income taxGeneral Considerations Re Investing Retirement Funds in Real Estate:1.

Sometimes the higher price points actually pencil out better because the gross income outweighs the costs, it's about advantages at scale.

It has a reverse floor plan (kitchen and living area on second story to take advantage of view, which is now somewhat obscured)  Current rent is 3,450.

I am interested to see how that progresses as Rural parcels offer the most opportunity to take advantage of this legislation.  

I've found that this isn't as big of an advantage as it used to be.