Delavan has come a LONG way recently and prices are shooting though the roof both for rents and to purchase. 

Any tips, strategies, or insights would be greatly appreciated!

Or should I wait it out a couple of years until I have a larger amount saved up.

In rural Idaho, it is much the same way. the counties have minimum requirements and if you keep things on the up and up, it should be fine.Now, in a historical district, that is a different animal all together.

Plus I would get some separation between the 2 stand ups.

Rents will go up.

The last one, Realty 411, is a completely made up magazine.

The loan has come to term and they can’t maintain the property and the current interest rates.

I did not come back to revisit this post from so long ago.I did not buy this property. 

I think you need to find a good local agent, network with investors(local meet ups, FB groups, etc) and learn more to dial in the gameplan.