Technically yes, but your odds of success are very slim and your potential will be very limited.

Low prices enable more people to buy, limiting demand for rental properties so rents decline (in inflation-adjusted dollars).Population Growth: In areas with growing populations, demand outpaces supply, driving up property prices.

But from what I've observed (and I'm sure you've seen too), only a few new investors, who are more analytical in nature, do this.One of the issues that I've seen again and again is new investors putting together a "spreadsheet" based on their limited understanding, that produces inaccurate or misleading numbers.

For example North Carolina is $40,000 or less, Texas there is no limit, and so on.

It just feels like I’ve been making a lot of short term sacrifices for long term gains and I have to be really diligent with money management. or I could also just try to borrow money for the renovation, and pay off the line of credit over time, but I feel like that really would limit me and if the stock market(my collateral) went down I could also see some trouble. 

I think the simplest summation of Booking is that if you are willing to live with very limited and frustrating customer service it is a great tool to fill gaps in the calendar. 

Third: even if your new toy qualifies for a huge depreciation deduction, your allowable deduction may be limited, and may even be zero.

In my case I sold off appreciated properties in a location I deemed as having limited future upside, and used the proceeds to eliminate all debt on the better located prime properties I wanted to keep long term.

If the rental income doesn’t sufficiently cover the debt payments by their standards, they’ll limit the loan amount, even if the property is worth more.You could try a few alternatives:•Look for lenders who specialize in commercial real estate and have more flexible DSCR requirements.

Information including but not limited to: - Median Sale prices for different property types (SFR, MFR, Condo/HOA, etc.)- Average days on market- Absorption rate- Historical data on rents and sale prices in the area- Population growth- Main economic drivers (industries, individual companies, etc.)- Crime stats... if you know specific zip codes/submarkets that you'd like to target, the best data will come from local precincts. - and more..I'd recommend remaining active not only here on BiggerPockets, but in other valuable RE investment networks that you can find - i.e. local meetups (meetup.com, eventbrite, BP local events).