Proving to the carrier that the building is a lower risk through methods like the wind mitigation report is your best bet to get a lower price without sacrificing coverage. 

You might as well buy a CD, at least that is safer. 

Sure, it's safer to pay off the first home before acquiring another.

I'd rather bet on myself and live with the consequence than throw money out of state and lose most if not all control. 

I bet he/she came come up with some great options.

-based consultant Eilers & Krejcik, predicts that sports betting in Kentucky will go live as early as 2021 as part of a wave of 16 states that includes Indiana and Ohio. 

I would bet he would be willing to pay more for the place because of his past and knows how hard its to find a place. 

Honestly, your best bet is to actively network, read books (boring and interesting alike) and listen to podcasts to develop your knowledge.

But would I bet a super-high end rehab on it? 

If that is the case, I doubt you would get $1200/month for a 3 bedroom unit.While I am guessing because you did not give much information at all, I would bet the renovation would be closer to $20k for what your talking about doing.