By all measures this strategy is far superior to what all the BRRR/DSCR/Poor Dad Rich Dad folk do.

Or what investment strategy you are looking to do? 

I don't believe "waiting it out" is an effective strategy.

You can only sell it to landlords using the rent by room strategy.

Definitely worth factoring into your strategy, though

Depending on your goals and how you are buying your properties you may notice that certain areas are difficult to cash flow in NH depending on your strategy and what type(s) of properties you are looking at. 

You might consider other strategies, like taking a home equity loan or refinancing to fund repairs, but consulting with a tax professional or CPA would be the best next step for your specific situation. 

I'd argue that there are very select zip codes where this strategy works.

Just keep in mind the process can take a little longer since you’d need to work with contractors and follow FHA’s requirements.4.Your End Game: Whether you’re planning to stay long-term, rent it out, or sell once the work is done, it’s important to have your exit strategy mapped out.

Buying in your backyard eliminates so much for you.What strategy do want to follow?