Your construction background is very impressive, I'm in the Music Factory area of Uptown Charlotte (not sure if you're familiar with the area yet) but if you ever want to get together for a beer/coffee and just talk shop, let me know I always love talking real estate!

This is why I love the power of BP CommunityExit Strategy: Initially, our goal is to hold the property long term for cash flowHowever, we plan on using HUD FHA 223(f) to refinance the property..if we cannot refinance the property before the balloon we will start marketing the property for sale around year 3Ben you bring up good points on the tenant factor. I

Or is it not that big of a factor?I

Below I've copied text from Pub 523 - Selling Your Home-------------------------------------------------------------------------------------If you own or live in more than one home, the test for determining which one is your main home is a “facts and circumstances” test.The most important factor is where you spend the most time.

Then there's another factor: I still live with my folks, who are of the more fiscally conservative variety.

I looked at a few properties in the past to do this and although they were okay deals the insurnace on the mortgage tended to really be a factor I didn't want to be stuck with for the life of the loan. 

But I know working in the factory (night shift) as a general labour will not get me any where.

You may already know this, but Canton's biggest assest job-wise is also its biggest draw back for growth - the paper factory.

Another factor is whether the loan is recourse or not.4. 

The most important factor is where you spend most of your time, but the other factors that are relevant include addresses on documents and proximity to various venues/people.