The higher the risk, and the lower the DESIRABILITY, the greater the cap rate.First  we need to lower the $85k “net” to probably $60k to account for property management.  

We have a website, SEO is better now and we’ve climbed much higher in the google search but struggling to get clients.

Short term, "higher cash flow properties/areas" will be better, but long term "better appreciating properties/areas" will yield a better return (in my experience).

Exactly what i was looking forIf the rental income can support a higher loan amount, the path to getting the most cash back out of the property is to complete the renovations first and then cashout refi after.

However as you correctly point out this is far more risky and or its risk capital compared to buying a income property.. but the reward can be strati-spherically higher .. not just a little bit but it can be life changing profits on some of these deals.

Credit score- the higher the best. 760-780+ generally gets best pricing for investment property loans with most lenders.

I do fear your cost may be higher than you predict and may result in a property tax increase.good luck

Home prices are a little bit higher than bloomington but so are the rents.

However, consider the higher interest rates and make sure the rental property you’re targeting can cover those costs.

Which contributes to the higher inventory right now.