My main goal is to find something relatively close to the DMV area but without the DMV price tag.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

However, I live close-by (30 minute drive), recently retired from my day-job, and if the loan is not too large, I might be willing to do a deal just to learn a bit more about another side of RE.  

I get better investment options and lower expense ratio through my Roth IRA.

Are you going to continue to live close by?  

Says they are "fly by night," never returned my Deposit, Closed in Austin, looking for more "Suckers in Tampa, Florida." 

of those I like next door best because it is hard to fake and the reviews are easily tied to a reviewer in your community.The costs of ADUs vary significantly for various reasons including by ground up vs conversion, difficulty with lot (sloes, access, etc), finishes, and even the size (bigger typically have lower PSF).Good luck

But occasionally we have issues and tenants need to be asked to leave or just decide to disappear in the middle of winter and it sucks.The worst part is I find the quality of tenant interested or willing to move this time of year isn't the greatest either - often times there is a reason they have to move right now since most landlords don't like ending leases this time of year.Either lower your rent or just hang in there.

Most people don't know how to use a wood burning fireplace correctly - operating the damper, not closing the damper until the fire is completely out, going to sleep with the fire or coals still burning. 

If there is minor rehab (such as painting and cosmetic improvements) you can still close on a DSCR loan, however it may affect your appraised value, which could also affect your market rent if its a vacant property.