We have a development coming up for approval with the county adding over 100 units bordering our small town and you can bet everyone that lives in our town is upset about it. in the end though, the planning commissions in our area tend to follow the letter of the law so to speak, so if there is nothing in ordinance barring it, they will approve, generally.

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.

Also, I wanted to convey that the type of investor I describe should on;y accept a quality tenant well above what’s typically considered acceptable in the industry.  

Generally speaking, with SFR or small multis, I just rely on the lease/rent roll (and some form of proof of payment; i.e. bank statements, deposit receipts, tax returns, etc.). 

Ask to speak with some of their current owners and current/former tenants.

Prices are far lower there “relatively” speaking due to low demand.  

I also recommend speaking with several insurance companies to confirm you are getting the right answer/price.

The scope of work, quality needed, location etc will determine the cost.

Speak with lenders - and consider that although they might agree they could lend to you today - they might not be able to when you need the loan.Unless the existing debt has no due-on-sale provision, there will always be a risk of the underlying loan being called.If it were to be called due:1.

@Melissa SejourRecommend 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?