It may be easier to include utilities in the rent.

There are two main ways to utilize this exemption.

If it's the difference between $1800 and $2200 but you have to cover utilities too, not worth it. 

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?

You won't be able to use conventional financing and must use a non-recourse loan which typically require 40% down.

Hi Ryan,Typically construction financing isn't based on your taxable income and rather more contingent on your experience, FICO and the deal itself.

the profit is far less than I typically achieve but this is an awesome cabin (it was owned by a country music star in the past). 

Utilizing the preREO strategy, a receiver (i.e. a local real estate agent or property manager who you may already have a relationship with) could be appointed to make repairs and rent out the home during the foreclosure process.

I wouldn't bet my life on 50%, but I would bet they are more problematic than the typical long-term renter.

Typically these people are really forthcoming with info and can tell you.