That's a $300 deficit which doesn't sound bad since you will be living in one of the units and saving approximately $500 in rent.

One , if you buy for cash flow, whether the market is good or bad you are making your money , and two, if you wait for the perfect moment to buy real estate, you will be waiting forever.

Comparable sales on 3 Bedroom two Baths in the area is from $120,000 to $150,000 move in ready as this one is the $15K delinquency is PTI and increasing every month, and the owner finance buyer bad credit will not allow refinance as you suggested Jay.   

Statistically, you're more likely to deal with evictions (people that are one bad flu away from missing rent just can't be as consistent as people with more money, sadly), and the Section 8 program is loaded with red tape, inscrutable changes, and general headaches.

Years ago, early in my investing career, a friend of my grandmother owned a duplex free and clear that he wanted to get rid of.

So all my desired long term tenants are below market rent; I have one tenant that has rent set at market because they are not desired but not bad enough to warrant me not extending their lease (they are on month to month but soon will have length of stay that will require me to provide a 2 month notice).So the tenant made the right choice. 

I had no idea what I was doing and it could have gone very badly!

Generally, a bad idea.

There are a lot of people spreading bad advice so it's always wise to use other sources (e.g. books, attorneys, etc.) to verify information.Watch the webinars, read the blogs, ask the questions, and then dive in!

Otherwise, best of luck in the career.