Great thing is the low taxes!  

Anything higher means rents are too low.

Pro: It's Cheap, they actually use good photographers.Con: Inexperienced low paid agents that dont know what they are doing.

I was looking up different ways to finance a rental property but it appears that a lot of the low money down loans require you to live at the Property.

Profit on a low risk property, 8-12% on a medium risk, and 20% on high risk locations.  

I just purchased a couple smaller apartment bldgs where the rent is about 100 low per month.

Some people toss out offers to everything then work down, others toss low offers and hope they get accepted.

This was a low purchase value house( 30k), so I am not really freaking out over the 10 years of depreciation being added to or subtracted from my cost basis. ( I took a few years of accounting as part of my education).     

I say buy.. take advantage of thse low rates of an owner occ mortgage.. then your building equity instead of building your landlords equity. .. and since you can get roommates all the better. then if you want to buy again you have a rental in your portfolio already.. 

I can either offer some really easy seller financing terms or a low cash price to get it done.