Jenna, Findlay can be a fantastic spot for buy and hold investors.. especially if you’re after dependable cash flow in a smaller market.

Quote from @Jake Andronico: @Tom HallNo shame in a paid off property.

Several have zoning restrictions saying no more than 3 unrelated people can live in a property. 

We only need a couple of units, and wanted to be in a very pretty/affordable coastal area,  so it's working well for us.   

The reason being if you show them those reserves and the deal goes bad, they are gonna come after you for that $ and that will put you in a really bad position.

I think there is even a contingency in place for those whom submit deals that DO NOT get accepted for 3 months in a row.

As long as you have the insurance liability, property and flood if you are in a flood plain.

What speeds would you recommend putting in a medium-term furnished rental?

Numbers always look good on paper but between holding costs when acquiring and renovating property, closing costs on can also add up.I am not saying it cannot be done, as I did it with about 75 loans in a very similar fashion (except I was buying NPL's and got them reperforming).

Let's say there's 3 properties in a 1-mile radius with 5b/3b, but one is a foreclosure and the other 2 are regular conventional sales.If you're doing a comp for your subject (4th) property, do you have to take the foreclosure one into consideration?