Or a 2 bed cabin estimated to bring in 60k to 70k. 

Often in a seller's market, buyers are forced to waive contingencies, increase purchase prices, and provide very favorable terms to the seller.One of the most common contingencies that is waived is the home inspection contingency.

Are you looking to simply purchase from afar or do more of a househack here? 

Quote from @Javier Esquivel: What is a good solid flooring that is budget friendly to go into a rental?

I’ve assisted my clients with purchasing with as little as 15% down. 20% is usually what most investors put for down payment.

Subsequently, our friend/tenant had just broken up with his GF and now had the space and needed the help with the rent to stay in our property.

@Kevin Leejust curious, what were your closing costs on your purchase? 

However, I'm fairly confident that the issue is that the price is too high my friend. 

Quote from @Chris Barrett: First mistake was trusting someone from Fox and Friends... lol, ya that take will play well on a real estate investing website.

I have wanted to start investing in real estate for a while now and I have recently taken the next step by educating myself on the process I plan to purchase my first rental within the coming year.