Also looking to build a solid Long Island based team (Agent, contractor, lender).

Hi Charles, I'm also based in Honolulu with young kids and in a similar situation to you, have also thought about buying an investment property in Japan that we could use part-time and rent out at other times.

we ran into this in FLA  a few years back when I had 4 starts and I exited that market.. permits  sub base all pretty tough for someone who is not there and already knows the systems hands down and has a devoted loyal sub base.. thats the key in my mind.

Lenders usually determine whether properties are lendable based on the debt service coverage ratio. 

I'm still figuring out how this site works, but I'll be in touch if I hit a wall!

Are you basing this solely on what you can afford, or what you intend to make on it, or your target sale price? 

I am a real estate broker and property manager based in Clarksville, TN and I specialize in working with investors.

Following - I'm based in California 

Based out of Salt Lake City and looking to do multi-state investments in real estate by flipping or renting. 

This is a small 3 br house.Work Order Instructions:- Entry 1 : Security/Screen Door | Replace Exterior Door Screen- Entry 1 : Wall/Ceiling | Spackle and paint- Bathroom 1 : Door Stop | Replace door stop- Bathroom 1 : Light Fixture | Replace bulb- Bathroom 1 : Shower/Tub Caulking | Re-silicone tub- Bathroom 1 : Toilet bowl/lid/seat | Replace toilet seat- Bathroom 1 : Toilet Paper Holder | Replace toilet paper holder- Bathroom 1 : Tub/Shower | Relay loose shower tiles- Bedroom 1: closest to the front door : Closet/Door/Track/Shelving | Install Closet Rod- Bedroom 1: closest to the front door : Light Fixture/Fan | Fan light does not work - replace fan- Bedroom 2: 2nd closest to the front door : Closet/Door/Track/Shelving | Replace closet rod- Bedroom 2: 2nd closest to the front door : Window Covering | Replace blinds- Bedroom 3: furthest from the front door : Switch/Outlet | Install smoke/CO detector- Bedroom 3: furthest from the front door : Window Covering | Replace blind- Dining Room 1 : Window Covering | Replace Blind- Hallway/Stairs 1 : Light Fixture | Replace bulb- Hallway/Stairs 1 : Other | Replace blind- Kitchen 1 : Window Covering | Replace other blind- Laundry Room 1 : Light Fixture/Fan | Replace bulb- Living Room 1 : Switch/Outlet | Replace Outlets- Living Room 1 : Window Covering | Replace Blinds- Basement 1 : Light Fixture/Fan | Replace bulb- Systems 1 : Thermostat | Reattach thermostatLine ItemsDescription AmountLabour hours, replace several blinds, screens, door stopper, replace toilet seat and toilet paper holder, reset showertiles, install closet rods, replace necessary bulbs, smoke detectors and outlets, touch up paint$2,096.38Shop Supplies $3.00Ace hardware invoice I51016 $44.64Ace Hardware I50619 $53.69Ace Hardware I50569 $43.57Total $2,552.16The gross rents on these units are great but so much of the profits get eaten away by the turnover costs it just makes less and less sense every year.