@Jeremiah GaviñaI would stay away from anything that references the word "loophole."

It depends on your risk tolerance but I don't like to go more than 60-70% as long as I stay cash flow positive.

I agree with what others have said about the southeast and stay away from the coasts.I also agree with what @Steve B. said about looking for the next thing to pop rather than what has already popped. 

If I am buying with seller financing, and the seller wants to stay on title, I will negotiate very hard for killer terms.

The police said I would need to evict.These are the types of things that keep or force people out of the business, meaning there is more reward for those of us who stay.

the filing to get the two or three permits, like motel permit and short rate stay permits is not the issue, they want us not to take any renters until this is obtained that is the killer here. we have retained an attorney and are hoping they understand that this is a busienss and will suffer hardship if we stop the renting till permits and licenses are issued'

If you plan to marry her and stay together long term, which hopefully is the case as she is a fiance if she has credit card or other high interest debt that will be a better investment than RE. 

Fortunately despite the delays I was able to stay on the 30k budget for the most part, and at the end I decided to go a few thousand over to do granite countertops instead of formica and to do that nice mosaic backsplash so that the house would have a wow factor, which I think had a lot to do with getting it sold so fast!

I stay south of Ralph Av and west of I-65 and north of I-265.

Explain your interest in the properties, tell him how he can benefit and most of all stay above board.