buying rentals out in the mid west north east deep south are pretty much interchangeable given price and rents.but don't kid yourself  its not like investing in mutual funds or a reit.. it takes work to buy and to manage long term.if you buy at the top end of the market in most of these areas you will do just fine over time.. just don't get sucked into buying on the bottom end of the price points.. those will have the toughest tenants lots of turn over and damage etc.so just be cautious but yes it can be done..  

I would be very cautious renting to someone with bad credit AND an eviction on their record.

With prices up by that much this quickly, I'm sure you guys can understand why I'm being cautious about jumping in without checking the temperature of the water first!  

Be very cautious with only 2 comps, and never assume you can get an accurate value from only 1 comp.You can try to get an approximation of market value by looking at sites like Trulia and Zillow but the problem is those sites often don't show truly comparable properties - they are often not too similar to the one you are trying to value, are very old, and/or aren't really in the same area (even though they might be within X miles, neighborhood boundaries really do matter - 1 mile in one direction doesn't necessarily equal 1 mile in the opposite direction!).

Unless they have provided you with a detailed break down from their general contractor I would be cautious. 

Our last flood was in 2011 and buyers are STILL very cautious in those areas.

New investors can also have great success, but they need to be cautious, patient and clear on their expectations. 

But in the meantime, and especially if they do not come recommended by investors you trust, you are wise to be a little cautious.   

However, I'm proceeding cautiously to avoid staking the entirety of the property's value.

Nothing fills up the time slots on the nightly local (and national) news more than the hurricane awareness segment.

Pleaseeee...

Give it a rest already. I know I can't be the only one tired of being told to prepare ...