I require a high credit score 680+ and two prior landlord references.

I'll do something that appears to be taboo on BiggerPockets, I'll share my rates and fees.Today, we were quoting interest rates between 10% and 12% for (1) a first-time flipper - 0 flips, (2) with a credit score in the 740's, and (3) putting only 10% down with us financing 90% of the purchase price and 100% of the rehab.

I made the mistake of renting my single-family house in Alpharetta to a tenant with a credit score in the 500s in December 2023.

Hail is the big culprit, tornadoes to a lesser degree. 

His credit score is fine but his income is showing too low to get the loan, so I though maybe I could use my HELOC to make the purchase and do a Lease to Own.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Take stock of your current credit score and accounts.

Credit Score: A credit score of 650 or higher is required.

The sub 550 credit score people come out of the woodwork to apply for this home. 

The Midwest has not one thing that is overly amazing, but it scores reasonably well in every single category.