How much weight do you give to the cash flow benefit of cheap debt when the property is priced above market?

Some might not be livable at purchase but 5k still seems cheap unless there is something off with the data. maybe the prices were reduced on unlivable properties due to back taxes being part of the deal for the purchase.

That is tight leverage for an investment 2nd position loan.A private investor might be willing to do it, it's not going to be cheap at all & will be short-term money & will not be a line of credit to take out at your liking.What is your rate on the 1st?

You can purchase a cheap camera with a built in cellular connection: Cheap 4G Camera All this needs is a SIM card.

Consider Charles Lindbergh’s 1927 solo flight from New York to Paris.

Most all of the cheap rust belt cities are going to have declining populations.

As per the TK provider business model, property was bought cheap and rehab done (work provided).

If you can do it, in ground all the way.Nothing screams cheap like an above ground pool.

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

Am I being cheap?