Did I mention they also factor ongoing rent increases of 6% for the next 5 years and 7% appreciation for the next 5 years.

Hello @David Calme, Could I get a list of the MHP funds you mentioned as well? 

Fast forward 2 years his landlord mentioned in passing he might sell the property; I was the first person on his mind.

I forgot to mention another sales tactic is to tell people at the three day class you can charge your investors the 40k tuition.

Also not mentioned but worth noting.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

As Scott mentioned, I am bullish on Buffalo for many reasons.

I wish you would have told us the year, it makes a huge difference.Anyway, everything you mention, plus 1) get a camera run on the sewer line, 2) make sure the Elec panel is newer and sized correctly (a lot of HIs will just say if it's functional or not) 3) Foundation ( is it slab or raised?)

Scott - I'm in the same boat -- looking for STRs in the area you mention, as well as closer to Asheville (where I live). 

This is changing in Oregon as @Jay Hinrichs mentions.