It is very important to establish your buy box (with specific states) before jumping into this game. 

I also invested in a syndication for which I received my first K-1, where box 2 shows a net rental real estate loss.

Every time we thought we had all the boxes checked, the city threw another curveball our way.One thing that eventually helped was getting in touch with someone directly in the zoning office.

Here's a link to their rural search tool - https://www.consumerfinance.go....As long as you have reasonably close comps and the CFPB says it's not rural you have a good chance of getting an appraiser to avoid checking the box for rural to appease DSCR lenders. 

I have comfort that their legal team checked off the necessary boxes. 

Most lenders cap out at 75% and I know of a few that can go to 80 as long as the scenario checks a few boxes, but the majority of DSCR cash-outs stop at 75%.

I have been able to find deals in the current market using the BP calculator that fit my buy box, but when I see that homes in that area are estimated to be ~30% overpriced and am watching in real time prices drop it leaves me unsure what to do.

Quote from @Adriana Collado Hudak: Hi Jason - I did a deep dive into turnkeys and MidSouth Home Buyers checked off all the right boxes.

They said they have been putting the rent in a drop box to pay the rent at the closed realty office.

They solved the mystery of the Creature from Jekyll Island!