As for the zip code you mentioned, some of the areas in there are nice due to steady rental demand, you just want to be very careful on the neighborhoods you select as some areas will be better than others.

I like the idea of virtual staging—it seems like not many of the similar properties I mentioned are staging at all, so I think that could be a definite way to separate my photos from the others.

The other thing that concerns me is you mention that you are both high income earners but that you are “trying” to save an emergency fund.

I requested a few days ago on several properties and am waiting on their decision.

Assuming the ARV you mentioned is accurate, at 75% LTV you'd be able to pull enough equity to cover your existing payoff, refi costs and walk away with a good chunk of cash in your pocket.

So as I mentioned, my guess is they co-GP or do something. 

Since you are not doing super high end finishes as mentioned, doing high end flooring and all other stuff just above builder grade does not warrant tile or full wood flooring. 

@Kyle Westerman I think you're wise to wait and see where this goes.

Nope can mention any that will be better risk reward than making the Delta on a 3% loan in the US.. 

And let me not forget to mention, it’s MUCH more affordable.