That's high end for Town and Country and some of Chesterfield and blue collar/starter homes for much of Florissant.

Read up on real estate syndications, and don't get scared off by the high minimum investments ($50-100K).

I may try to broach the subject of a 5% equity stake, but they seemed averse to it when we were initially discussing terms at a high level.

I think you need to get a better understanding of what things cost in the area and if things are priced too high, you need to seek more quotes.

They will pay high prices to meet needs that are not income producing - they are shopping for a different product that is provided from the same stock that our income properties come from.2. having deep enough knowledge of the neighborhoods to allow us to recognize a good deal takes a lot of time.

It’s going to be highly dependent on your situation, assets, etc.

Almost any $65k property in a Midwest city is going to be Class D or need $20k+ in rehab.Class D means you'll only get the worst tenants, who have a high rate of eviction for nonpayment AND they trash the place on their way out.You MAY get lucky and get a S8 tenant for your Class D rental, but most of them will want to live in a better neighborhood.

I have been finding tired landlords who carry back for me, particularly on the barrier island in our high priced touristy market. 

All of the product is nearly identical in target market reach (Class A, high rent).

Also, no contract or high upfront fee.