If they do move, you should be able to rent it easily and for a bit more as there is now a washer and dryer.Hopefully you got a pet deposit or are charging a monthly pet rent.With people looking for rentals, never trust what they say. 

I would evaluate what price points and tenant class you’d prefer and go from there rather than looking at absorption rates for rentals. 

Rent should easily be 1050, could probably get 1150 but using 1050.  6600 annual profit (I've not added any substantial for maint becuase it's all new), that equates to a 2.9 year ROI. 

We are ready to get started talking to brokers and evaluating potential deals in the following investment classes:1.

If the home were in disrepair I'd tear it down and build townhomes because the lot is zoned for and could easily fit 4-5 units that would likely go for $650k+ each.

We have $150k cash - but not what we need and I'm not sure I want to spend all our cash.So, trying to evaluate all our options, here is what I think our options are:1)  Look into a hard money lender that would be willing to have a lien on the property for the owner's contract. 

These tanks can contain anything from waste oil to gasoline, for example if there was a gas station there in the 1950's, those tanks could possible have never been removed and can easily cost 10's of thousands to be remediated.

We have $150k cash - but not what we need and I'm not sure I want to spend all our cash.So, trying to evaluate all our options, here is what I think our options are:1) Look into a hard money lender that would be willing to have a lien on the property for the owner's contract.

Know what the trends are (inventory levels, active listings, pendings, solds, etc.) and learn how to evaluate rehab costs.

I've evaluated two deals in the last month that I almost pulled the trigger on, but after a few counters, the numbers weren't reasonable anymore.