Cities like these offer untapped potential without the intense competition found in larger metros.3.

Post on local Facebook pages for contractor referrals, go to local REIAs, and ask your potential agents and PMs (even if not using a PM at first...you may at some point).There is only so much that service providers can do and many of them are far from "experts"; so, be prepared to be your own expert at being willing to figure stuff out as you move forward.

Residential subdivisions, while potentially less complex, can be hit-or-miss depending on local housing trends and the cost of infrastructure development. 

I have a hard money lender at 10%, who will amortize at 30 years, with 5 year balloon so a potential loan of $200k is in the works.

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

Good balance of affordability and rental potential.

Then it could potentially be legal depending on how it's worded.

Laundromats are open to the public, and if the local neighborhood has a high crime rate and transient population, those can be potentially expensive problems that can affect your business.

The renovation aimed to modernize the property, enhance its appeal to potential tenants, and maximize its long-term value.

See, now we removed arguably 90% of those overwhelming potentials.