Location shouldnt matter too much for the lender.

Would need to know about locations of your buildings and current rents to see if there is anything that can be done now to get numbers a bit better.

You'll want to have your rehab completed prior to the balloon coming due.

@Christopher HeidrichRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Unless y'all have an incredible W2 to help with the purchase, you will not find something that "works" in the Triangle and in a good/safe location.

You could tell them to cancel the listing and you will find someone else to list it after a month not 4 months (the market take is subjective too, all dependent on what your house has compared to others, where it is located, the size of it, and so many other factors).

I am located in Ohio and like many people I have researched and read about, tired of the 9-5 grind and putting money into someone else's pockets. 

@Arlinda RexhoWhen considering a 32-64 unit multifamily property in Texas, focus on strong locations with population growth, proximity to amenities, and low crime rates.

Biggest struggle is finding deals that make sense where the numbers work and in locations that would work for STR.

Its going to really depend on your location, scope of work, and finishes.