Disclosure: I'm off to a super beginner start so I may have screwed up or don't have enough information so I hope I can get some advice.The property is a condo.Purchase/ Asking Price is $100,000 (This is not negotiated yet)1 Unit - 1 Tenant - Currently paying $1000 Per Month2 Bed1 BathBasement with Washer/Dryer.The Owner is Out of State.In addition I am trying to find out the Market Cap Rate in the area.

Hope that all makes sense.The numbers for the property are taken directly from the Offering Memorandum look like this: Asking Price $ 2,900,000 Rental Income for 2017 $ 355,089 Additional Income $ 8,266 Gross Expenses $ 145,034 NOI $ 218,321 Cap Rate listed 7.53%Now one of the confusing aspects of this document is based on Potential Rental Income.

and the GC agreed not to charge me for the additional painting as it was a mistake and outside the agreed upon SOW.Working with this particular GC remotely was very difficult.

Good DTI; significant student loans, but payments on the loans are only around $200 on income-based repayment.Have around $35k cash available and can take a loan from my defined-benefit pension for an additional $4,300. 

In addition, the contracts that they signed are one pagers and don't give any protections to the landlord. 

I am looking to get out of the rat race, and possibly begin a new career path by making an additional side income, while partially investing my current savings into real estate.

I also see that there is an empty outside access room in the rear that I was told can have washers and dryers installed for additional income.

If you join and attend the chamber of commerce or building planning meetings and organizations you can get a sneak peak into where the next areas of future growth will happen.

In addition of course to the obvious tenant problems that will become more commonplace.

Altogether it is a 4/2.5 single family, but part of it is an addition with a kitchen and only 1 adjoining door making it out as more of a 2/1 and 2/1.5.