If you want the houses to be super cheap look at Midwest locations like Cleveland, Detroit, Toledo, Indy, KC, Baltimore etc......

Plus scan the local Craigslist to see what used furniture is out there.With all the questions you have asked, I don't think you said where it was located.

Secure the house immediately.

@Chris StrokesYou would need a securities attorney to review a PPM.

Financing provided through this program is only available for properties located in Michigan or Florida.Available Product Type: SOFR 7/6 ARM, SOFR 10/6 ARMLoan Amount: $766,550 MaximumLTV: Purchase and No Cash Out Refinance - Maximum 99%Prepayment Penalty: NoneLoan Assumption: NoneEligible Properties: 1-unit dwellings, attached and detached condominiums, PUDsEscrow: An escrow account must be established for property taxes, and flood insurance, if requiredUnderwritingNo Private Mortgage InsuranceOccupancy – Primary residencesMinimum Credit Score - 700DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)Student Loans – If in deferment, no qualifying payment requiredDown payment of 1% must be borrower’s own funds, while closing costs and prepaids may be gift fundsAttached condominiums require a 10% down paymentEligible Borrowers – Protect and serve heroes are defined as employees of public or private education institutions, employees of medical and healthcare organizations, all first responders, and active or former military personnel.Servicing: Retained

It is in a great location, but needs a ton of work.

Location, type of home, type of rental, etc make a difference with it all. 

Visit the location and ask questions to a property manager who will give you honest feedback. 

I’d appreciate some guidance on a few matters regarding my investment properties.I recently purchased several properties in the following locations:• Ft.

Right now, we’re seeing a slight increase in inventory and some corrections in rents, which could create opportunities—but achieving solid cash flow on a condo can still be challenging.Getting pre-approved is a great first step to narrow down your options and focus on locations that make sense for your goals.