One that may not be rebuild able under current regulations.

Other regulation could come along that works differently, but it's not even on my radar.

Atlanta MSA is great and growing, but Multi-Family supply coming on line there both now and through next year is significant, wouldn't this be a better/cheaper deal 1 year from now?

Ensure that you check your state's regulations and requirements regarding security deposits.

Make sure you thoroughly know how the regulators view the way things are being done, before committing to a "creative financing" technique.

There is a lot more state regulations and lending laws change when 5 units or great.

.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

Perhaps it is hard for people from the states to understand - but the rule of law, and clarity in regulations etc really makes it so much more attractive than other places where you never know what new policies might come into effect forcing you to take massive loses etc.

There's a lot you can do remotely such as listing on websites, pricing strategies, arranging/order supplies, guest communications, going to the property and doing work on it (note: travel time generally doesn't count).

Anywhere that has consistent or slightly growing population and a decent job supply may be a good fit.