With market values reaching approximately $3.95 million, that translates to a 115% ROI.

Years ago I bought houses for $25k in my market.

Bham is a great market.

The original six month tenant I had extended the lease 9 times and stayed a total of 5 years, paying me about $15k over market rent annually.  

Another concern is after the two years, I still wouldn’t be lendable for most properties in my markets due to that lack of income. 

I would consider getting 1-2 deals on market before you purchase off-market.

You’ll want to make sure your property is styled and stocked to fit the target market catering to what Big Bear has to offer and what guests expect.

Then to find inventory, you need to search out, i.e. network, and find out who is creating these type of notes or you help people that may have an interest in seller financing how to create a note that is marketable to the secondary market.

Value: I am paying current market value. 

We invest in Idaho, probably the most landlord friendly market in the country, had good luck there.