I have zero connections in NC, but if by chance something emerges, I'll let you know!

Thw more dense a project the better chance the numbers work. 30 inexpensive homes on 3 acres will pencil probably before 5 expensive homes will because you still have to spread your infrastructure across 3 acres.

Context matters, and there are steps you can take to protect yourself while still giving applicants a chance to prove their reliability.ALTHOUGH, still stay compliant with all of your states Fair housing laws, Always.

Quote from @Chad Verde: To clarify, $200k in equity so estimating cash out refi around $130kLike some wise advise here, this is not cash this is equity.

I came across Bigger Pockets a few months ago and have been learning on my own by listening to podcasts (RE Rookie, On the Market, BP RE Podcast) and reading the various recommended books every chance I get.

Also what is your estimated FICO and experience? 

Get estimates for all repairs that are above fair wear and tear in advance. 

Milton and Farmington can be excellent choices, too, often with more budget-friendly options and the chance to add value in less saturated areas, might have better cash flow luck here.For lenders and agents, I'd recommend networking with those who have experience specifically in the NH Seacoast markets since these towns can vary in terms of tenant demographics and rental demands.

Anyone would consider a nice finished room with great natural light a bedroom, but in the off chance the tenant doesn’t pay rent then I would be in the wrong for letting he/she live there in the first place.

I was estimating the ARV at 160-165k which I don't know what it will be for sure but I'm a little worried it might be less which throws a wrench in things as well.