I agree different city if your talking school district quality that is a huge issue to me.

On the flip side the clients I fund in my land deals are doing very very well in the foothill subdivision 50 miles or so west of the springs.. but thats the land game buy low sell high.. cant wholesale that stuff it needs to go on MLS to marketed and turn around time is generally 90 to 180 days but nice margins for my clients ..

The net result is basically the same, but it keeps the two properties separate from a lenders perspective.Any low down payment money, particularly on an investment property, is going to come from a private money lender.  

There are a few others here on bigger pockets who have endeavored to do so and can attest to this  (but I will not name them).Basically AHP bought 1000s of low value non-performing loans, these require the most oversight mainly due to the condition of the properties. 

The real estate prices are relatively low, compared to the cities & more touristy areas, but the rental returns are good, with a low vacancy rate.

While the property hasn’t appreciated much since purchase, we’re considering keeping it as a rental due to the low rate.

218K seems a little low for the area.

In any case, I doubt many people on BP would want to buy properties in Switzerland given the very low returns that can be achieved there.

You might find that installing a mini-split system, properly insulating, and ensuring the finishes match the main home’s quality will make a difference in how the appraiser views it.

The seller becomes the bank and pays capital gains one time on the downpayment (which keeps it low to make sense for them) and then also monthly on the payments (also incentivized to just match how much he wants a month).