I know that I would like a tenant pool who is credit worthy, trustworthy, and not low income.

It's a low crime area already but it's extra insurance we like anyway.

One other thing not in my original post, it is understood that an evenutal consequence is that our daughter's basis, when she buys the property, is the low sale amount, which could affect her in the future if/when she sells.It would be better, of course, to die first, and have her inherit the property with a "step-up" basis. 

I've been pre-approved for a 3.5% down FHA loan which is what I would prefer to do because the low money down but with it being an FHA loan the house is going to have to be in livable condition to meet requirements for the loan. 

In my situation (getting 30 year mortgage with 25%) the Cash on Cash return are pretty low.

If so there must be something I’m missing as to why it’s priced so low, otherwise I think your rehab budget is way off.

Some of the materials we choose and asked him to pick up (such as flooring) he replaced with low quality materials, I assume to keep more of our money for himself.

I have a 250k low interest loan on said property that is going to be paid off in about 8 years.

Freddie Mac also had a very low number of foreclosed multi units vs SFR in the Fannie Mae world during that period. 

Hi BP,I've heard too many horror stories on property management companies that are not doing their job properly (i.e. do not provide best advice on hazards, termites, do not try to save money when it comes to minor and major fixes around the house and in general do not act as the owner proxy and serve his best interest).From one hand, for 10% (especially on low income neighborhoods) I realize (but not understand) that I can not expect property manager to take care of my house as its own.