This can happen by buying below market value, by improving the property, or a combination. 

Also, note that Lewiston and Auburn (known locally as L-A) are about to vote (on Nov 7) on whether or not to combine their cities, in which case things may change for better or worse. 

Net Worth of the borrower principals combined need to equal the loan amount and the liquidity needs to be equal to or greater than 9 months of debt service.  

So for a 2-story house with a basement unit (combined for a total of 2 units) with a market value of $550,000 that also has 6 parking spots, 3 indoor and 3 outdoor I should be able to collect a total of $5,500 monthly rent? 

I do combination of both, use realtor to show, but I take care of phone screening and tenant screening part.I don’t mind pay them to show for me as my schedule is not very flexible .

There are some good opportunities here, imo, but I'm afraid the environment combined with the crime rate will stop people from renting or buying here.Is a whole seller someone with a different strategy compared to the fix and flip guys?

If the house is small enough (~100-1200 SFQT )  just a drive by could be enough as well combining in inside pictures.

I did a BPO (as this is my first 2nd, probably did not need to) but how worried should I be that the BPO value came in a lot less than the combined UPB on both the 1st and 2nd combined (therefore, no equity in the home at all)? 

You can combine exchanges to purchase your land but that purchase has to fit into the 45 and 180 day window of every property you want to include. 

Combination of ranking first on google, he needed to he being really tired of the house, and me being bluntfully honest and trustworthy.And guess what I found under the old rotten stinky carpets...really old OLD hardwood floors, and pretty much in great condition!!