As a result (at least in my area) most appraisers rush this process and give something like 112% value for remodel- which is utterly ludicrous, as our remodels are enormously leveraged and should give closer to 300% value.And with these ARV based DSCR programs, you need a high ARV dollar amount, or else they further drop your LTV.

Bottom line - All hype, bs, misinterpretation, opinion bias, etc aside, sellers willing “owner finance” the sale of their property for one reason - and one reason only: They PERCEIVE that they are getting a higher price for their property by owner financing than by a cash (cash to them) sale.The “perceive” part is why buyers can sometimes structure terms ridiculously one sided in their favor - because some sellers are so focused on PRICE they become oblivious to anything else.It’s why I and numerous others have been able to structure 20 year owner financing loans at ZERO interest; why sellers have accepted “substitution of collateral” that gave them a lien on recreational land I had rather than their own income producing property; why sellers accept second position liens and allow buyers to obtain new first mortgages ahead of theirs (subordination), and why sellers always accept mortgages without my personal guarantee.I myself sell properties and provide owner financing to obtain a higher price.

And heck - go ahead and keep what you have and try to salvage it so you're not bleeding.

Even if the ARV is the same and the rent is the same, if adding an amenity will attract and keep better tenants longer you could still end up ahead.

Once you've got a handle on being a landlord, then you can explore out-of-state opportunities with more confidence.Whatever you decide, make sure to do thorough due diligence, run your numbers carefully, and don't rush into anything just because it seems like a good deal.

A rush to settle before you find out their scam.

Make sure to plan ahead and speak to an investor friendly lender that can help you look ahead at potential roadblocks and how to avoid them or overcome them before getting your self into a sticky situation. 

Don't expect them to put in all new stuff on their dime just because it is aging.You also should keep in mind you are buying an old home and not be in a rush to update everything.

If you were evicting due to non-payment then the tenant would be advised to apply for impact and then the government would pay for any past rent, late fees, and three months ahead.

Really excited to learn more and to speak with those (most ideally who live near me with whom I could meet up in person, but definitely not a deal breaker) who are in a similar stage or perhaps just ahead of me, from whom I can learn and feel supported by as I venture into this new world.