Lenders will base their max LTV on the appraised value assuming positive DSCR.  

Because prop was vacant, I assumed its the furnace, as its the only thing that was running. 

We didn't do enough of a sensitivity analysis and assumed we would get a 70% LTV on the loan.

If they are, and assuming you living outside USA is only temporary, perhaps you do what Nathan Gesner suggests and find a property manager where your interests and theirs aligns? 

Dylan Hi Dylan, Despite the tight profit, assuming the property can debt cover at a 1.10 ratio, you should be able to get a short term bridge loan up to 70% ARV, which would be a $560,000 total loan amount.

1) an investor will pay the least for your house.2) An assumable loan will only help if you owe at least 8-%, preferably 90% or more if the sales price for an owner occupant who will pay the most. 3) it’s been a VERY slow winter.  

This I would assume for certain is something an attorney would have to set up? 

You’ll lose the 10% state income tax, you’ll eliminate the traffic, and assuming you and your friends don’t bring it with you.

Assuming the owner would accept the deal, we would look to stay in the home 3-5yrs and then use equity to move into a more desirable location.

Assuming that answer is yes, this seems like a deal that is too good to be true!