First step would be connect with a local lender familiar with the strategy specifically utilizing fha loans.

As others mentioned, a turn-key property for that budget might take you to some challenging areas.For that budget, I'll suggest looking into Detroit and trailers.

Am I being specific enough?

So, plan for this by having very specific terms about what happens if a tenant decides they want to leave in the middle of a lease.

There are even lending programs specifically for this.4.

Every state I've looked at has laws that specifically address property abandoned by a renter.

It takes reps and reps to do, and generally having a commercial specific calculator for the assets you are looking at would be helpful. 

If budget is tight or space is limited, a traditional tank heater could be a more straightforward choice.

(if this was not a long time or forever home for us, I would have built a 2 bedroom adu (probably an extra $20k to our budget and that would rent for about $2,500 here) and then maybe a jr ADU to the main home for another $50k and that would rent out for about $1,500 per month. 

The city's diverse neighborhoods cater to various budgets and lifestyles, enhancing its appeal to a broad tenant base.