Now that values are quite a bit higher, it could be tougher, as the comps banks are using when deciding whether to approve the short sale, counter it, etc. are trending higher and higher (but might not be true comps to the property you're trying to buy).

Have you looked at the population and employment trends?

They’ve expanded you Columbus and offer property management along with turn key rentals for investors. 

A GC can act as a CM and pull permits and oversee the project with you in control and you paying all bills directly but you will need a CM contract with them.Best thing to do if you want to use a GC turn key is to find one that does the type of homes you are looking to build.

The key with owner finance is to not overpay in price or terms in exchange for owner financing.

I have learned lots from my first year in business and my biggest lesson is that education is key.

I'd begin advertising/put out the For Rent sign to start screening new tenants and I'd begin discussions about how I understand his problem and if he'll clean up this and that really good I'm happy to help by not pursing them for the rent owed if he leaves the keys on the counter and is gone by X date. 

Those are two very key components. 

All surround a key issue or issues that result in loss of jobs. 

Just read a similar post... starting to see a trend here.