ASSET BASED LENDINGNote: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank. 

My credit should be the highest allowable also and I shouldn't have problems with approval.Ok, i shopped about 80 lenders (based on Fridays rates, market is closed so no live pricing)Conventional Full Doc loan you would be at 7.875% if you put 20% down (you said what the house was worth, but not your purchase price). 

If you do choose to invest out of state, the best advice I could give you based on what I have observed running a local real estate group here for over a decade is build your own team.

Does anyone have a "program" or formula to use to establish a reasonable list price based on current income and expenses.

Here’s my perspective based on personal experience.For some context, I’ve been investing in real estate since 2019, primarily in Detroit, while living in California.

It's a very local question based on the comps and active/recently sold inventory inside the community.

The home was built in 2006, great neighborhood, close to the highways, close to everything new that is being built, close to a military base.

Another variable in the amount of rent that a Section 8 tenant can pay is HUD limits their rent payment based on the amount of their income. 

Sounds like you are going with a Fannie/Freddie type loan based on the cap of 2%.  

I have about $300k in equity (based on a BPO performed in July 2023) but no cash.