Do the calculations factor in default rates?

And, factor in the depreciation and other tax benefits, deductions, home office, vehicle expenses, etc. 

Even comparing Provo to NC in terms of flight duration and cost even though both have direct flights would be a huge factor for me.

The systems you have in place to handle leads, follow-up and your sales processes are also huge factors.Another factor is what is your monthly marketing budget?

I'd estimate your cash flow after you pay the loan payment would be $600-$800, which a lender that understands investment real estate should give you some credit for on your DTI.As for a bank, I have a specific lender at NBI that I would recommend.That 600-800 you are factoring in the HELOC repayment each month too, correct?  

But they still suffer from interest rates and market sentiment factors.

Property Valuation:Investors look at a variety of factors to determine a property’s value, including comparable sales (comps), rental income potential, and location.

So, factor that into your thinking about whether its the right choice for you. 4.

Credit is a factor as bad credit may limit options, or may have the lender require you to put 10 or 20 years of taxes and insurance into escrow. 

@Dennis Bragg, how did you factor improvements and market appreciation into the buy-back price?