It’s currently a low income area and has been for years, but currently going through gentrification.

Not for people who don't like crowds or drunk people. 

Shop around, you should be able to get a property insured for less than $800/yearYearly maintenance - this seems low.

Low-maintenance, well maintained desert landscape. 

It is a fairly low income area. while the area is rough, its actually on the much nicer side of town, not that it really helps, as I mentioned I'm viewing the property this week and plan on doing some more thorough neighborhood recon.

Sometimes no credit is better than bad credit, why the low scores? 

Joseph Szymczak II I don’t know that there’s a magic way to “buy low”.

Some commercial brokerages do this when an owner just needs certain items reports, questions answered etc.I do not do such things because it is a low return per hour.

Due to the low offer and seller counter, i agreed to a 1 month leaseback for the sellers because they are moving into a new construction home and it may go over schedule.

FHA is good due to the low down payment but the up front MI is very expensive.... in addition, you have to add .8 to your rate which is going to be your monthly MI so it will eat into your monthly profits; you cannot drop the MI, you would have to refinance to get rid of it. make sure you properly calculate the payment with all escrows and re-run you numbers...