We have helped a ton of clients with the process here in Chicago..just be sure to find a team (Agent, Lender, HUD Consultant, and General Contractor) that has done these renovation loans in the past!

I’m considering amulti-family property in the 76104 zip code of Fort Worth, TX, and I’d love your feedback to help determine if this is a good deal.Property DetailsAsking Price: $169,999 (seller says it’s negotiable).Current Rental Income: $2,400/month (duplex is vacant).Configuration: Combination of duplex and triplex units.Some units are rented at below-market rates.The duplex and need rehab.Historical Income: Seller claims it previously brought in $5,000/month when fully occupied.ConditionBuilt in 1934, so it’s an older property.Some permits were recently pulled (e.g., plumbing, window replacements, and sheetrock repairs), but it still needs work to get the vacant units ready to rent.It’s located in a neighborhood with a higher crime rate but also near major highways and areas with rental demand (e.g., downtown Fort Worth and Texas Christian University).My Goal:I’m focused on cash flow, and this property seems like it could work if I can stabilize it.

I have taken numerous courses in RE and am passionate about learning more I am based out of West TX- Midland/Odessa area

This was helpful. 

It's always a little more challenging investing in out of state (I invested out of state for 15+ years) but you can still be successful doing it. 

I was wondering if anyone had ideas on how I might be able to attract more tenants who are okay with having this type of policy as I know it might be a bit of a niche market, but I'd love to hear any suggestions.

There are no plans to change that.Further, it won't help. 

Here is a comprehensive guide to help out-of-town parents navigate the process effectively.1.

Thanks in advance for your help! 

The substitute of collateral was more of a scenario where you sold for $155K, and instead of paying off the $88K loan in your scenario, those funds stayed at the title company and were used on a cash purchase happening nearby in date.