For almost $100k a lot you want a pretty high NOI to make sense of it, like over $300k IMO I agree.

The main thing is making sure your investments produce a return that outweighs the cost of the borrowed money.A full cash-out refinance could work down the line, but with rates where they are, you’d be trading a 6.25% ARM for something likely higher, now that it is not an owner-occupied property, which may not be worth it unless you really need the capital to scale.

I have done quite a few different things, one of the best to find out who is doing the most volume is go onto good and search for the "we buy houses companies" in the area you are looking to invest.

90 day or more late is really a snapshot of the subprime element.

It would have to be pretty egregious and an unusual situation.I don't know of a case and would be interested if such a case existed. 

Greensboro: More of a smaller town feel.

Painting, for instance- an amatuer could take their time and paint a house over the course of a couple weeks and do a great job, but a professional crew could do the entire job in a day. 

We have a potential buyer of a lot in St Augustine, FL who would like to build a new single family short term rental.

They have a loss of income protection, etc.

It is one of the reasons I like a Wrap Note and Mortgage (or Deed of Trust).