The owner lived in Utah and was making too much money as an orthodontist to worry about his run down property.

If you have at least $2,000 to spend or once you scale to that point you could run ads to get your seller leads to come to you and usually these people are just scrolling and your ad pops up that you're looking to "pay cash for homes." 

Anyone have some first hand experience with RADD/REIT that Dutch Mendenhall runs.

those are much more compelling than running a bunch of data and picking a random low cost market that you don't know anything about and don't have a network in.hope this helps

And when I run the numbers, when given the 2 options, the lease option model appears to make more money for the investor or money partner on a shorter term hold than the turnkey model.In no way is this analysis to be disrespectful or passive aggressive.

I'm curious what others have run into when comps are very limited. 

Doing this would put my new properties making next to nothing, running some rough numbers I may make $100 or $150 per month on new properties with mortgages that are around $1,500 per month. 

Here is a video that runs down the basics - https://s-media.nyc.gov/agencies/specialenforcement/01-Legal...There is also a prohibited building list - https://www.nyc.gov/site/specialenforcement/registration-law...Here are some more info overall - https://www.nyc.gov/site/specialenforcement/registration-law..All of this makes STRs in the city pretty tough but it certainly not impossible.

Where I am running into an issue is there is a delinquent account on my credit history.

That's because it's the group I help run and I was one of the speakers last month.The markets you mentioned are generally considered fourth-tier markets.