Purchase price: $325,000 Cash invested: $1,000 4 bed, 2 full/2 half bath townhouse built in 2014.

I am considering buying one property (3 Bed/Bath) since I am starting out with low capital for an FHA (3.5) - Will buy "as-is" to get better approval odds and avoid the 203K loan. 

Here are the numbers.2 bed/ 2 bath 1,100 sq ft.Purchased the condo 10 years ago:$128,500 (currently owe $97,000)Current estimate: $215,000Mortgage (P&I): $550/moTaxes: $55/moHOA: $220/moRent Estimate: $1,400/moThis would become our first investment property if we keep it as a rental.

Building #1 Single family one bed one bath small house.

She was showing a house that I wanted to flip but it was 419K, 7 beds 4 bath, in a good neighborhood but it was a big step for my first deal so I didn't jump.

Houses with similar Sq footage are 100k - 130k (but most have 3 beds). 

I own about 140 properties, but I live in a commercial building built in 1904 with my wife and two children, My two kids live in offices and my wife and I have a bed in the middle of the main entrance room.

It does not appear to be D, war zone.

It should currently appraise at or below $200K, it has 2 2 bed/1 bath units and 2 1 bed/1 bath units, current rent for the 1 bed/bath is $500 per month. 

The units do seem a bit undersized are they all one beds?