If you can find anything comparable that has sold in the area as well as if there's anything similar on the market, that may be a good start. 

My assumption is that she'll say 30 days is not enough time to find a new place (if she can't promptly pay her under market rent, how will she come up with first and security deposit elsewhere), will not finish paying her May rent and won't pay June either so trying to see if it's best practice to have that eviction filing in process as an incentive for the tenant to move along quickly.As a note to others in a similar situation, what I've read here in the forums that I didn't adhere to was "stick to the lease" and if someone is a consistent problem, they're not going to turn on a dime and get better, you have to protect your investment and part ways when things aren't working.Any insight appreciated.

Per the article, the term "Seriously underwater" is defined as 25% or more owed above the total estimated market value of the property; Among zip codes with at least 2,000 homes with mortgages.I'll let you in BP Nation decide if this potential financial loan distress would make the Rocky Mount area more or less attractive for a real estate investor.

You know the market.  

I highly recommend Jorge Vazquez, who has been helping investors in the Tampa market for over 20 years.

Make sure your contract provides you with permission to market the property, which includes marketing on the MLS. 

Understanding the market is crucial for making informed investment decisions.

This is a much more effective approach to finding below-market deals, especially as a new investor.Good luck Shenell!

But the biggest takeaway is, if you are only making 6% returns in cash flow and you are not assuming any appreciation, I would buy a money market today.  

I've done my research and feel that this is slightly below market price.I plan to move into downstairs unit once I can get current tenants out.