If you can avoid the potential downside of having to litigate to evict someone or collect damages, so much the better good sir. 

Just make sure to document how you arrived at the land value in case of IRS inquiries.If you’re unsure or want to avoid any red flags, consider consulting a tax professional to ensure you’re compliant and optimizing your depreciation. 

A CPA can make sure you maximize those benefits (like depreciation, mortgage interest, repairs, PAL, etc.) and avoid costly mistakes.

Here's a link to their rural search tool - https://www.consumerfinance.go....As long as you have reasonably close comps and the CFPB says it's not rural you have a good chance of getting an appraiser to avoid checking the box for rural to appease DSCR lenders. 

Try to avoid condos/townhouses or anything with a HOA/condo fee. 

A formal agreement would also be smart to avoid any confusion later on.Sounds like you’re in a good spot with the $80k to invest.

They know the local landscape and can guide you toward the best neighborhoods and opportunities, helping you avoid costly mistakes.By leveraging the relationships that local investors have already established, you can quickly build your Core 4 with professionals who understand the nuances of the area.

Central heat & air*I made this below chart based on this community shared knowledge (Thank you all).

The numbers are normalized to the ARV and the math doesn’t care.Lastly, if you are not borrowing your costs, or can somehow avoid sales commissions, then of course you can pay more, and you can’t use this rule of thumb.

I want to avoid dipping into my retirement because I’ve run the numbers and even just pulling out $500k for down payments absolutely kills the compound interest and makes a material impact on future net worth.