Hey Matthew what price range are you looking at?

I would also seek a lender who can explain the range of loan programs available to you.

Gross rents on those ranged from 2,400-5,700.

Our price range is in the $600-$700k. 

In Michigan, the location i'm looking at has mostly houses from 1920s to 1950s for my price range, at least so far in current market.My realtor has mentioned about the asbesto Sidings which i didn't know about before.What are your thoughts on renting out a SFH with Asbesto siding? 

Thank you, with that amount down it would be out of my price range.

Given that the borrower had given us sufficient time to complete the loan processing and clear all title conditions, we were able to arrange the financing with one of our multi-family lenders at a rate that was actually lower than the prevailing rate when the borrower initially contacted us.

Risk level is lightBut if the deal looks like:140k purchase160k rehab420k ARVThe above deal is twice the size, the rehab is more than the purchase price, the ARV is in a range where houses can take 3 months to sell. 

There are great communities in Katy, Cypress, Tomball and Spring that make great rentals in the $300k range.

There are some neighborhoods that have a higher likelihood of appreciation but are out of price range.