If you're not familiar with this area, extremely high property values and a thriving real estate market.

If you're aiming for really detailed budget-vs-actual tracking for individual repair categories, breaking down receipts can be extremely tedious.For example, if you buy toilets, doors, vanities, trim, and paint all on one Home Depot receipt, those five items technically need to be categorized separately (plumbing, doors, bathrooms, woodwork, interior painting).

Verifying last 2-years of rental history and income/employment extremely important to find the “best of the worst”.Tenant Default: 20-30% probability of eviction or early lease termination.Section 8: Class D rents meet program requirements, often challenges to pass Section 8 inspection.Vacancies: 20%+, depending on market conditions and tenant screening.Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciation.Where did we get our FICO credit score information from?

I am an extremely hard working individual who knows what hard work looks like and will not run from it.

But that's going to take you ~10 years to hit the $5k/mo goal unless you can improve your investment capital base.So those are the extremes of the spectrum.

I'm thinking a extremely low purchase price, (50-90k) then Reno from there.

This is an extremely unusual practice, never seen this in 15 years of my investing career.

I'm extremely risk averse by nature so this community has really been special for me.

Just some ideas thinking out loud

The cost of Spam comment made me laugh out loud; luckily that won't be an issue for me but glad to know it is available.I specifically am looking forward to reading about how you chose Teak and what the real estate/business  buying process was like.Thanks again!