@Olivia Umoren contact a good mortgage broker to help you get a long and short term game plan in place.

Spoke with the listing agent, received rent roll and will know shortly - we will see how the Housewives saga concludes. 

He has owned it for about 32 years and the offer is very attractive so he has been considering it as he had previously considered retiring within the next 3 years anyway.

If all goes to plan I'll collect until I'm 85, if my cancer gets worse I'll try to sell the note while I'm above ground to prevent my wife from having to deal with it.That's a long answer to a short question but NO, I don't consider 20% to be too low, depending on conditions.

You may need a non conforming product which often carry less desirable terms due to the close proximity of the short sale. 

If you're a short-term 5-7 year investor then maybe you do struggle with the thought of investing right now.

We had luck on MLS a few short years ago but now that isn't happening for us.  

The area attracts a lot of attention due to having Walmart headquarters located here as well as the University of Arkansas.

Would potentially look into a duplex, or a SFH that would appeal to Airbnb or short term rental (basement space or above garage apt).

This will be my 3rd rental investment property (mix of long and short term rentals).