Typically, we conduct background checks on only the individuals who are responsible for the lease (primary resident) and/or cosigners.

-Max LTARV is typically 75% -Is a 12-24 Month Interest-only loan with a balloon payment - Minimum credit score is typically 600 -Interest on the Rehab is usually paid per the total drawn amount. 

Typically people who ask this question either a) have TONS of money and no time and can afford to take losses and risks OR 2) are pretty naïve to all the risk of long-distance OOS investing.

Most out-of-state investors looking at Detroit are typically focused on cash flow, which means they're usually targeting C or C+ neighborhoods.

The profile of the typical Houston traveler is someone coming in for work.

Also HELOC's typically have lower interest rates than personal loans since it is secured by your home.

Typically when people graduate they look for a job and move to the area of the job.

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

However, a wall sitting on top of conc. is not typically allowed however, there are work arounds.

And your bank is not requiring any sort of paydown of the mortgage for a partial release.