That’s a huge advantage.Totally agree on property management being a make-or-break factor.

Look at factors like proximity to jobs, schools, transportation hubs, etc.

Quality pics are by far the number one contributing factor.

I am waiting for a seller to let me in on any sort of motivating factor or insight that could help me put together a proposal. 

Some other factors to consider - How long are you planning to hold this property?

Financing is important but your realtor will absolutely be the determining factor whether you purchase correctly or not. 

I’ve been in a similar position where I wanted to scale but equity was a limiting factor.

However, the suitability of buying and renting out a single-family home in Richmond can depend on various factors, such as market trends, rental demand, and property values (similar case with all markets, really.)Chatting with a local agent in the area can provide very helpful insights into the market, data, and specific neighborhoods.

Also, factor in potential interest rate changes if the HELOC isn’t fixed.

To do this, they have a team consisting of an inspector, a makelaar, and renovation professionals.However, as Ken M. mentioned, having someone trustworthy there to manage everything would also be a key factor.