Consider that in your initial plan.

The cost segregation studies that typically yield the highest credits and deduction are for properties valued at $150,000 or more or that have lots of added features such as components to operate or high-end custom finishes.

That HE loan would make you cash flow negative on the first property, especially considering you are not even factoring in any repairs, maintenance, vacancy or management.

Make sure utilities are available, and that you have tap fees included in your estimate, as well as engineering (site plan), architectural plan, and other bits you might need to consider for your market (landscaping and costs of sale, for example).

Hey Kent,It sounds like you're making a smart move to consider out-of-state investing, especially with the criteria you've set.

For now, I’ll have one roommate paying me $600/month and might consider finding a second roommate to help offset costs further.This will be my second property.

Also, consider the impact on your liquidity—ensure you won’t need that cash elsewhere during the project.Off-Market Deals: These can offer better margins.

Would you even consider a property in a flood zone in either area?

Just keep in mind that it's not all about rate and fees - there is a considerable knowledge and expertise component that should be considered as well.

However, a larger home may consider another can or two in certain locations based on proximity to the kitchen or bathroom.