The complex used to be a low end motel until it was converted into a kind of short term apartment complex.

Looking to do low down payment that will affect cashflow because my family and I will live in the house for the first couple of years and want to live in a more desirable location/home.Thoughts?

@Natalie Schanne  the darker wood look 'tile' in front of the island is a commercial vinyl product (from Lowes) that we had to glue down on a subfloor because of the original floor condition.

You need to stand out from the crowd. 

@Kraig Kujawa I have mailed directly to properties with tax liens with a low success rate but I am a horrible direct mail marketer. 

I also don't deal in low-end rentals, so I've never had problems with freeloading deadbeats like I guess some of these posters have that are adamant that your friend is a bad tenant??

Weather is nice here and median income tends to be solid with low cost of living .

I think I'm setting the bar nice and low on this first trial.

Obviously it keeps the payment low, I'm sure I could always pay more each month.- I know you would need more information to give an educated opinion of the deal, but just looking at the rough terms what are your thoughts?

Personally I will only rent yo someone with a government voucher in the very low end neighborhoods.