I don't have to put a down payment nor I will have to pay PMI and have a low interest (3.5%). 

Hello BP Community,I too found some lots mostly in moderate to low-income neighborhoods.

Average of about $600 rent per month.I sent a low ball offer not really sure if it would be accepted, but to my surprise it was. 

Property prices are a bit elevated considering the low average income, so we're having to be picky and patient, and the banks aren't as willing to budge on the bank owned ones.  

Account Closed I look at them as more motivated and possibly willing to take a low offer since they know they couldn't sell on the mls. 

For her it was too late, she was approaching a fixed and low income retirement.

Ha ok so I'm kind of ruling out the 600k property unless maybe someone who has the house paid off will accept a low offer with owner financing, kind of a long shot though.

My Farmers Insurance agent has a product he sells me - I want to say the name is Diamond or something.

Las Cruces, NM 88005This a 4-plex, with 4 2-bed, 1-bath units.The price is 174k.The last unit putting in rent was listed for $375/mo (that looks a little bit low but it is probably normal for LC).

That price could be low because the Life Tenant could live another 20 years.