The fix/flip might be a good way to get such a relationship started: usually has lower cash out of pocket requirements and you can sell the property faster to recoup the capital invested, plus any profits.

Lenders will lend the lower of the amount between LTC and LTV.Do you require an appraisal and survey?

It was certainly stressful to do a rehab loan (non-recourse) and refinance with non recourse loan and budget the renovations.

Once it's rented, use that rental income to help offset your DTI, which may help you qualify for the second property sooner.Partner with Investors: Team up with someone to split costs and lower your personal DTI impact.

You’ll learn the ropes on how to be a landlord with a lower risk/higher quality tenant-base. 

I used the lower of rent amounts for analysis. https://www.biggerpockets.com/analysis/rentals/ee5f6928-93ce... is link to the BP Calculation on it.

the midwest has lower price points than other areas of the US, sure, but it also comes with its own challenges - for example, very old housing stock, lots of deferred maintenance, and tremendous demand for the best properties."

The income amounts look to be long-term rental (which they are and came in 30% lower than what the STR average did) and 2. why did the appraiser look at homes 20 miles away to compare to when there are PLENTY of rentals in town...

Not sure if it had something more to do with pandemic response to move to lower priced areas or what the motivation was.  

If I can park the 388k ($415-27k) for one year at CD rate of 4.5% and then est 300k (after paying cap gain/depr recap) at 3.0% (assume CD rates lower) that interest income of about 24 months net of ordinary income tax is about the same as my current mortgage.Trying to play devil's advocate and think why selling this year does not make sense.