Because those simply demand a significant level of labor inputs that makes it very hard to effect the efficiency model we invented. 

I think Trump will help but our debt levels are too far gone.  

I’ve seen folks pivot their plans quickly if they discover one city has friendier permit processes than another.And yeah, the Phoenix area has some really down to earth investor meetups, from what I’ve heard, that can help you level up fast.What aspect of the business are you most excited to tackle first.. managing construction, or scouting out those under the radar leads?

Including the location that you are looking into doing this in, if you have a p.m. or not, and who that p.m. is, and their level of experience with it, or if you are self managing, And so much more.

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

This is a fine example of where to research out of state investments as the housing prices to purchase are still reasonable and low (not like California where I am and entry level house SFR is a million dollars). 

It is not your credit score but generally better credit will result in a better score- Time at your job- Education level- time at current residenceGood Luck & feel free to PM me if you have any questions. 

It's just going to be harder than you thought and will take longer than you expected to reach the level of success that you likely aspire to achieve. 

The loan is with you, not with your tenant, so none of that means anything to them - in fact because you live in one unit and it's under 4, if you were self-managing you don't even have to abide by fair housing laws (at least on the federal level). 

For example, you might agree to a 70/30 or 60/40 split, depending on his level of involvement.