You are limited to purchase price plus closing costs or the allowed LTV per guidelines, whichever is less (typically 80-75-70 depending on number of financed properties etc.).

It will make or break your investment so visit the city whichever you decide, meet locals and people you are going to work with before anything...If you are going turnkey route, there are many providers in those markets to choose from...

I think it is ideal to have a strong team in whichever market you invest in and it will be much easier if you know at least 1 person.  

I remember in a podcast someone would completed renovations on a property and market it as both a rental and for sale and would take which ever came first. 

Which ever you choose if it's profit you are looking for figure out which gets you the most.

job = whichever will pay you the mostreal estate = go owner occupied & rent out parts of the propertycall banker to apply for loan. 

They will know the HELOC is for the home purchase because they are going to source the funds.run your plan by the lender in detail before you buy anything, this way you aren't guessing what will happen. delayed finance is 75% LTV or 100% HUD1 whichever is lower

Whichever option you decide to go with, I'm confident that you will reap the rewards of being a savvy investor!

When the lease end comes up, raise it maybe $50 or 10%, whichever is more.

Recapture is based on depreciation taken or allowable, usually whichever is more.