Tax)  bi-weekly and I have a consistent job, paying a take home of $1600 every 2 weeks.

No fund manager can beat the indexes on a consistent basis.   

I know the area pretty well and where I need to buy in to have consistent tenants and I'm just not quite at the budget needed. 

Upgrades I estimate around 1200 which consist of cabinets, vanity, laminate floor, and granite upgrades. 

Yeah proceed with the deal, but if property has structural issues, multiply that cost by 2 and ask the seller for reduction in price.

If that happens and they do not know about or understand/buy into your criteria, they may feel discriminated against and bring a case against you.That said, provided you are firm on your criteria and can prove consistency in it's application, then you should be fine.  

Be consistent and stick with it.

(A business that is based on consistent cash flow.)

@Christian Martinez Hi there, I'm just starting out just like u and I agree with all of the above, to break it down, this us what I have made a habit of doing for 3 months now to prepare myself and to begin heading in the direction I want to go: 1: calm urself down and write a simple plan of what u want to do (ie- buy 1st REI in 6 months - 1 year.)2: write out what u need to do to achieve this (ie- start saving, educate urself, build a network if likeminded people around u, look for contacts and info in ur area)3: finances- pay urself first, have 3 accounts: SAVINGS & INVESTING, EXPENSES, CASHFLOW, put 10% for savings and 10% for investing into ur S & I acc, if u tithe 10% to ur church or charity and any expenses in ur expenses acc for any auto payments coming outer to set aside weekly amounts for any monthly payments...reasons for all this is to create a habit, to show on ur financial statement discipline and consistent records of managing ur finances and so u have money for investing.

It really depends on what kind of yield you can safely and consistently produce.