The city assessment is low, rough estimates are 180k if on Market.

We are seeing many DSCR in the low 6's right now.  

Rates are still relatively low compared to 20 years ago. 

If you get both of those aligned, it’s still one of the better “low cash in” structures out there. 

I had a trusted contractor look at it and it's looking like we're gonna spend a low end of $25K and it may possibly go as high as $50K.Even at $50K and $168K for the purchase I feel like we're in a really good place with these.

If some one list 1990 built home for 290k if I offer 250k is it too low.

Ultra-low interest rates and quite low RE prices.

I have had a couple applicants with Low credit scores offer advanced rent 6-12 months based on proceeds from sale of a house.

That is in effect what you are doing and f you do not include PM fees in your underwriting.Your maintenance/cap ex fees is likely too low by a factor of 2.You are missing the misc charges like asset protection, bookkeeping/accounting/tax man, utilities due to property issues such as by a slab leak, legal/evictions, etc.The 50% rule is aggressive at this rent point and projects $82/month of cash flow.  

I look for the classics, good school district, low crime rates and predominately owner occupied neighborhoods.