Since you've come this far already, I see no reason to stop.Besides, speaking of principle, while you may never receive a dime from the tenants, it's nice to know that any future landlord to whom the tenants apply will be able to easily discover what kind of deadbeat tenants they are.Follow through!

But to be blunt 10k is not enough to do anything with on your own, you can easily leverage other peoples money, but don't get caught up in these sales pitches out of the states our market is way more expensive and our banking system does not allow just anyone to buy.I would say when looking for other investors to pitch in cash, you need a track record.

That will indicate activity over time.Then your goal is to keep adding to the wall, if you slow down on postings it will look like you're going out of business LOL.Get about 8 houses up, then rearrange the pictures, you might take the first posted down then put up a new picture.

IT HAS AN OUT BUILDING THAT CAN EASILY BE CONVERTED INTO ANOTHER SMALL ONE BEDROOM  APT. 

There are some things on the accounting side that could use improvement, including the ability to easily separately apply expenses on a common receipt to separate units, but overall it works well.  

Maybe, you can aim for a property with less of a down-payment and little equity used, should be easily manageable with the both of you.

That profit margin is so small and could easily be wiped out with holding costs. 

I was fortunate to find a good realtor, so easily..Just be upfront, find a seasoned vet, and let him know that you need him to make HIM money...

I also agree that comps can easily be manipulated to show erroneous values.

So my analysis is $130k*70%-$10.5=$80.5, which is the offer I submitted.The house will be qualified as rental investment as well, since the rental can easily be $1.5k/month.