Works for many agents but those are all miserable (in my opinion) and I don't do any of them.With you avg prices around $360k (and maybe 2.5% or so your side), you really only need to do about six transactions to hit your target.

Definitions:Full GutFull demo and clear out down to the studsReframe PropertyCompletely New Mechanics (HVAC, Electric, Plumbing)New WindowsFull drywall and paintNew KitchenRedo Existing bathroom and likely add a full bath in basement and/or ½ bath on 1st floor (comp dependent)Finish basementReplace flat roofNew Flooring down to subfloorsBreak, Flatten, Pour new Basement concreteThis assumes no underpinning or structure is needed.

Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k!

There are several non-QM options that will work around that but with "hits" to the loan terms.  

I’ve heard from many (non-experts) that I’d need to stay for at least 5-7 years to avoid taking a significant financial hit, but that feels like a waking nightmare given how much this issue affects me.Financially, renting it out isn’t an easy solution either.

Once the crap hit the fan on interest rates they were doing everything they could to not buy.

If my Tennessee property gets hit by a tornado, I can move to my Alabama place.

VS with 2, vacancy in any 1 is 50% hit to revenues. 

installing PSL flush beamSome of my other favorites are undersized electrical services (particularly underground) aluminum and knob n tube rewires.

Hi, I am keen on a property but checked that it uses Oil for heating (instead of the typical gas or electric).