I’ve already put down a $2,000 earnest deposit and paid for the inspection and appraisal.This event is unprecedented in the area, as the area is typically low in violence and considered very safe.

I don't work in Nashville area but $165 per sq ft seems quite low to me.In terms of financing, I would speak with a few construction lenders and also hard money lenders.

You lose because there are many other suckers out there falling for the same line and sharing the same low-quality leads that don't translate into sales.Do the math.

A full gut and roof HVAC windows etc for 100k seems very low.

Cost to Rent vs Own and Return to Work PoliciesThis can mostly be attributed to the massive increase in home prices, particularly from 2010 to today, making people opt to rent for longer, especially today in the elevated rate and home price environment making renting the substantially cheaper option, on top of historically low inventory to choose from.

Just focus on running the numbers carefully to ensure the property cash flows or at least covers expenses, and don’t hesitate to lean on resources here for advice.If you’re financing, look into FHA loans, as they’re great for first-time buyers purchasing up to 4-unit properties with low down payments.

Locally my observation is that the need is more for low income young and working vs college student.

Too many low income apartment buildings near by / vacant buildings. 

I would tell people today that if you buy a primary residence expect to stay in that home for atleast five years, especially with a FHA loan which has lower down payment as the current forecasts for home appreciation or very low which with closing costs on the buy and sell, it will take several years to have equity in the property and enough to be able to sell, so that is something also to consider.

It's interesting because of the low start up capital and potential for higher returns.