For the value add we're going to fix up the roads, add a nice sign and fence, replace mailboxes, add lights and fix some plumbing leaks.

Make sure you buy it low enough to make it worth the trouble.

Maybe through mediation you can get some more money out of the seller for your troubles.  

Today one has trouble finding anything here under 500K.

Our property has HOA-mandated fences and faces a lake.  

If you only have a homeowners policy, and something happens like a fire or a guest gets injured, and the insurance company finds out you're renting out the house, you're in deep trouble. 

If you don’t, you could find yourself in financial trouble.

Trouble with cities on permits?

But you still have to eat today.Buying in  Ohio, Indiana, Missouri, and Michigan might be cheap and you can make a little cash flow but, the trouble with vacancies, trashed properties and evictions off sets a lot of that.What I have found, is that by buying decent properties in decent areas, before they even get listed and taking over the current financing at 3% or 4% provides cash flow in almost any situation. 

We have had no trouble getting our rents increased as long as we have three comps to support it and send in our request in a timely manner, 60 days out.