Therefore that’s a slow and essentially undesirable market to even think about buying in unless it’s a low income area.

1,125/mo rent = +13,500/yr-1,125 vacancy-1,350 repairs/capex (10%)-7,960 mortgage (110.5k @ 6%)= 3,335/yr remaining for taxes and insurance, or about 2.5%Are your taxes and insurance incredibly low in Savannah or did I miss something on my math?

I would rather see you taking a low down payment loan while doing  the minimum time as an owner-occupant in a triplex or four-plex house where the renter might at least lower your rent to make the debt payments, while adding value while you are there and managing next door places. 

I make a lot of money and my debt to income ratio is around 7% so I can afford a lot of house but I want to keep my risk as low as possible.

Or would I need to have the property sold to me for a low price to make it legit?

Looking for someone that can do a very low cost refinance.Thanks and have a great day!

How low do you go on foreclosures in an attempt to get the best deal?

They are pretty easy to get right now and they offer low rates and hope with you they will make much money off you eventually.You might should plan on Fix and Flip or Quick Flip right now in this economy and try to save all the money you can right now and getting into small apartment complexes are a better way to go. 

This can create risk of negative cash flow during vacancy or other events in which income is low or expenses are high. 

If you buy multiunits avoid low 500ish type rents