Judging from your profile photo, you have at least 1 good reason to take the entrepreneurial leap.Wishing you the best as you go from corporate office to REI.

It could be unbuildable.did you go look at the property at all, or did you bid blindly based on the assessed value and threw a low bid at it.

In no particular order I have listed some of the most popular markets for out of state investorsCincinnati, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiEach of these markets is popular with turnkey investors because of the low barrier to entry, high rental demand & high rent to price ratio.

You can acquire your a primary residence from up to 1-4 units for as low as 5% with conventional or 3.5% FHA with a few exceptions.

I fear i may be a bit aggressive on my allocation (i fear i am more likely low than high, i like my underwriting to be conservative).  

I do think i'm going to just have to bite the bullet and offer it for pretty low. 

Hello,We recently bought this 16 bedroom, 4 bathroom motel type room-in boarding house in a low income area in Syracuse.

If expenses are low relative to income, the cash on cash decreases when down payment increases (10k column).

I don't touch 8 caps with low years remaining on the lease.

Also purchased because realtors told me that 180 per sft is really low for the area and that its a great deal.