I'm definitely leaning towards Memphis, and other midwest states for Cash Flow opportunities, seems like the numbers work out better there. 

If you get a good counter and you accept you still have plenty of time and contingencies to get out if something doesn't work out for you.Take an hour and listen to the podcast and I bet you will be ready to move forward.Cheers,Bill

Instead, look into a 401k loan, Stock Loan or work out a deal with Grandma and get her a HELOC at P+1.00 so she can make the loan as 2nd mtg lender on that property and give her a 10% interest rate return AND have it recorded in 2nd lien position to keep the rest of the family from freaking out, etc., etc.

@Andrey Budu I'm no expert but I've learned that you can contact agents and see if any of them are willing to run comps for you in exchange for any leads that don't work out.

A quick rule of thumb: with the Purchase price being $220K and rent being $1800/month, it doesn't even meet the 1% rule , if it were to be rented for 1% (220K x 0.01= $2200/month), it would most likely work out for you but this doesn't seem like the numbers work.Long story short, no deal- unless you can raise the rent and/or lower your PITI.

This is going to be a disaster highly experienced investors couldn't pull this off, being tough having an open carry none of that is going to make F tenants work out. 

So I'm thinking about getting a hard money loan and picking up these higher-end properties and just farm out the fix work and skip the houses with really bad problems...but ones with normal problems I can probably get done.I did 35 flip but I'm 70 years old ...in good condition....and I wonder, do you think the bigger projects will work out.  

Will,That's good to hear, will save you some money. that is also the first thing that is required, the ramp, if you do renovations ( the article mentions that) so the town is keeping it at a minimum for you. yes with no interior work you would not be required to change the bathroom, keep that in mind if you ever renovate the inside though, you will be required to bring that up to standards. good luck with the tenant, hope they work out for you.

This is not to say that you can't write your own addendums --- you just have to think about how it would work out. 

I work out of state so have not physically seen the property.