Spending time underwriting a lot of deals in a few submarkets first tends to surface where numbers actually work versus where they just look good on paper.For long-distance investing, I’ve found it helpful to be extra conservative up front — realistic rents, higher expenses, and asking how forgiving the deal is if something goes wrong while you’re not local.

We are allowing the seller an extra month to work with HUD to allow them to approve the shortage and hopefully still close since I've invested a good amount of time and money into this deal along with there is not a lot on the market so I might as well try to ride this one out for now.

Add value through layout changes, not expensive finishes.One strategically placed wall that creates an extra bedroom can raise Section 8 rents by $200 to $400.That’s the cheapest ROI move in the entire business.Luxury upgrades won’t do that.

Many midwest markets has a low entry point which will fit your budget but you might face difficulties managing the property due to the neighborhood. 

And on that particular house, I was able to get all my money back plus an extra 68k, so it felt like a home run.

I appreciate the discussion where we can talk the realities and difficulties of properly insuring a management business! 

Ill have extra credit available in the HELOC for holding costs, closing costs, and repairs as needed.

The old saying of buying the ugliest in a great location fits this property, but after reading other posts I know there will probably be difficulties with gaining clear title from an Upset Sale in any sort of timely manner.  

Dang that's a bummer to hear about BRRRR being so difficult.

It took some extra time for my wife to run the rehab from 2000 miles away(we live in Idaho.)