If you are looking for the diamond in the rough, you will need strong team, and I mean STRONG trustworthy team.

If you are lucky enough to find a diamond in the rough, buy it. 

Your total rents will be $3,400 No its terrible, MAX the all-in price should be is 125kish, DIAMOND condition.

Yes, you can get what looks like diamonds at Walmart but there is a reason they are much cheaper.

Because you succeed with the househack, you are well-positioned, and also highly motivated to go after another property...rinse and repeat, and in 5-6 years, you have 5-6 cashflowing, (hopefully) appreciating, relatively easy to manage LTR single family homes.  ...or, perhaps you go into STRs after you househack--in which case, you will be much better-positioned and much more well-prepared to succeed with the STR (because you'll have the invaluable experiences gained from your previous househack).In skiing, we don't take beginners down double black diamond trails--doing that would endanger them and other people in the area.

I can comfortably say that a good contractor in Toledo is like finding a diamond in a pile of crap lolYou will find decent realtors, decent property managers, title companies, wholesalers, etc...One thing that is very hard to find is decent contractors.We have been buying a lot in the 43609 zip code the last year or so.You must be selective in this area as some streets are better than others.Area is becoming more and more owner occupied and some comparable sales are reaching $80,000+ which was un-heard of when we first started in 2014 and you could pick up a deal for $10,000 or so.The deals are still out there so just keep looking under every rock.Much success 🙏

Just like an investor knows how to spot a diamond in the rough, you can probably do the same with a PM company.

  =)  Fredericksburg is growing, has proximity to the Quantico base, and the 95 HOV lanes are being extended:http://www.virginiadot.org/projects/fredericksburg/i-95_express_lanes_fredericksburg_extension.aspI tend to agree with @Adrienne Green that JUST OUTSIDE Fairfax County is the best place to do this (in VA), but I bet it's also possible in a few closer-in areas, such as Springfield or Alexandria, where there might be "diamond in the rough" older houses and where your commute might not be too bad (train or Metro).I know a fabulous agent in Fredericksburg if you want a recommendation.

On the other hand, there will be diamonds in the rough looking for that extra push and knowledge to breakthrough to the next level.  

Also I was thinking of putting the word out on Facebook for folks to keep eyes open for empty houses and mail out letters to vacant home owners trying to find the diamond in the rough.