LTRs are defintiely a marathon- slim margins in B or better areas for the first few years will just get sweeter and sweeter...not so much in C and D areas.

@Derrick Burtle, Putting $60K with all cash offer is not a low-ball offer, but if it's a seller market, your chance to get the property is slim. 

Chances you get this to line up perfectly are slim.

Unless, rent is 1% or more of the property, you chances to actually make money looks slim. 

If you go to court for the eviction and on the slim chance the tenant does show, more than likely the judge is going to address one issue: Have you paid the rent?

I also want to make sure that we aren't keeping it too slim for ourselves.

HVAC contractor will:- supply and install 80k BTU 92% gas furnace on first floor- supply and install 3 ton coil- supply and install 3 ton condenser- supply and install 5 zone fujitsu mini split system on the 2nd floor with copper lines and slim duct (2-7k indoor, 2-9k indoor, 1-12k indoor units)- supply and install new duct grilles and registers- supply and install new refrigeration piping, exhaust piping, thermostat- supply and install new natural gas piping to accommodate gas load Estimate is $17,700 and I have no idea if this is fair or in the ball park.Any help or direction is much appreciated.

The thing that fires me up about appraisals is how if you get one to purchase a property the appraisals will *always* come in at right around the purchase price BUT when you go to refinance chances of getting the appraiser to agree to what you think the value should be are slim to none.  

In general whether it is RE or stocks-both asset class is inflated-unless you buy off market properties you will see slim returns.Let me know if I can help you in any way possible.

Then they try and talk unsuspecting buyers into crap deals that have weak locations, leases, tenants, etc. that couldn't sell to the experienced buyers and brokers.Nobody wants overpriced trash whereas loss of capital is high and long term upside is very low to slim.