For you seasoned investors, does it make more sense to go to Home Depot and take advantage of their deals for appliances and such, or are there better alternatives for flooring, tiling, and appliances?

Alternative strategies: Are there techniques or approaches better suited to markets like this where rents are so low relative to property prices?

Were you able to find a way to make that income count, or did you pursue alternative strategies to qualify for financing?

@Kasondra Milton- hi there ...thanks ...Raised in the fairport area ...live on west coast now ..last summer I had to return to Roch area to help with a family illness  situation ...I stayed in a AIRBNB that was close to Strong hospital for 3 weeks ...in my search for places - I must say I was surprised at the lack of options ( at least at that time ) ...that being said - I agree with your comment about the fact that Greater  Roch  likely  wont  attract a large amount of renters consitently  ( outskirts  like  finger lakes are a diff story ) - thanks and good luck

In your case looking to larger assets where you can effeciently cost segregate to gather bonus depreciation would be a smart move.Appreciation - Where in the country is the asset class you like growing or going to be growingAmortization of the loan - What sector or even region if you look locally for funding, is going to offer the most favorable lending so that less goes to interest expense and more to pay down of principle.Have fun with a spread sheet comparing these 4 returns from your investment with the type and location of assets you find attractive. 

With platforms like Airbnb or Hipcamp, you can attract travelers looking for unique stays.

FULL STOP  Your ability to make such a profit will depend on your ability to manage the asset better than the prior owner.As a seller, the broker should be helping you determine the price point, at that time, that attracts enough buyers to achieve an optimal sales price.

It's hard to place a price on something that has limited exposure in a market, with no comparable alternatives, but that doesn't make it worth more either.

Then he decided not to do business, they made the  offer very attractive and he was desperate. 

If your primary has a net $1M appreciation you’ll only pay $100k cap gains tax - that’s a lower alternative than what you propose.