Because the Property Class dictates the Class of the tenant pool that the property will attract.

My name and personal cell come up easily.Finding deals: I send letters to people behind on mortgage.

I am in the Clearwater beach Florida area!

Quote from @Quan Pham: I'll give you the easy answer: sell.If you were fired up about owning an investment, I would recommend keeping the house as a rental.

Quote from @Nicole Laba: I work with investors in Chicago who are actively buying off-market properties, and Ive noticed that everyone has a different approach when it comes to sourcing deals.

But now you have a challenge of documenting both your time AND time of everybody else involved with the property.Now, to answer your question - is it possible from out of state?

The owner occupant rate is super low compared to many states but as a rental it goes up alot.  

For co-living spaces, it’s important to confirm that lenders are comfortable with the unique rental model, as it can impact property valuation.

Buy: $284,900Rehab: $115,000Holding: $16,500 Points: $3,413 Selling fee: $30,000Insurance hold: $2,000-$2,500 (maybe get back $1,000-$1500 if you close quick)Other title/escrow purchase: $2,500ARV: $500,000Profit: $46,587 (9.25% approx) I would do the deal, especially if you get that gap for rehab closed 3-4 months and tighten up the rehab costs too ($100,000)   Appreciate the breakdown!

It certainly will help me to know what to provide for investors when the time comes.