Not all background checks are the same!

Some people do MTR/STR with it's proximity to the airport and North KC

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Section 8: All the S8 “gurus” promote putting S8 tenants into this Class of cheap properties to “get rich”.

You are not sure you want to buy but you do want the option to buy the house in case you decide that you want the house.

I’ve seen the best opportunities with properties that either need a little value-add or those positioned for short-term rentals due to the area’s proximity to Lake Norman.

Hi Chelsea, welcome to the community! 

Many rentals don't run through the MLS, but enough do to get you good data.Your opinion on Lakewood is not unfounded, it has been on a tear the past ten years. 

It gets better as time goes on and the cash flow is the least profitable piece of the puzzle. 

Quote from @Jay Jones: I have a HELOC on my primary residence but was told by the bank I have it with that they can’t give me a HELOC on my Quadplex because it’s a multi family rental (they could pass a single family rental off as a a vacation home.  

Lenders are going to look at your credit and time in business for credit cards more than they are the form of the business.