@Bruce Lynn Hey Bruce thanks for this advice.

., with the rapid rise of STRs, you will find that many insurers offer STR policies.We use Proper but it is very expensive but very comprehensive.

Check out this chart: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyMake sure you understand the Class of properties you are looking at and the corresponding results to expect.

I’d like to invest in this area since I am familiar and out of state investing requires more capital.

Is this a good or bad idea?

Quote from @Alex Brown: Seeking recommendations for a CPA or Tax Strategist who specializes in RE and REPS Status.This post should help:https://www.biggerpockets.com/forums/51/topics/1222774-expla...And none of us is allowed to offer you our services as long as this post is in the tax forum.

This is an incredible community to call home!

Neighborhood Scout is not going to cover any shortfall you have if it doesn't materialize.you could try finding a bank or broker that will do 80% out on a refi, although probably not possible to close by the end of this month. 

I have a pretty large capital ready to step into this game,I am in big conflicts either choosing Ohio(Cincinnati/Dayton) or Texas(Houston) for BRRRR method, I read a lot about Ohio, only positive stuff.

I struggle with this one.