The other thing about VA assumptions is that the seller's (veteran) VA entitlement will remain encumbered unless the new borrower is also an eligible veteran with sufficient entitlement on their COE. 

I did a quick google search for cap rates on apts in Muncie and I got a range of 8.13% to 9.50%.

My point is that investing in something because others are is not a sufficient reason for me. 

I found a new build I like and in my price range while visiting Charlotte this weekend.

For this project, that would mean targeting land in the $1.5 million range.

If the evidence does not pass all of those hurdles, we have a form letter that they have not provided sufficient proof of an ESA. 

Whereas the cap rate on active listings are 5, 6 range.

I bought from a primary homeowner in Indianapolis metro area who took really good care of this home (I did live in this house and rented it out when I moved back to California) and from a flipper in Indy more recently.As far as primary homeowners, they can range from taking really good care of the house to someone who has a lot of deferred maintenance - I renovated a local property that had a lot of issues.  

You're talking about the west side of Akron, which is a solid rental area and can range from C- to B; but most houses were built long before 2000 - typically in the post war boom 1940s-60s. 

Rental prices for a 3bd/2ba/2cg home 1500-2000sqft can easily range from $1,800-2,600 per month. 4) Major employers in Central NM include Sandia National Labs, Los Alamos National Labs, Kirtland Air Force Base, FBI, US Federal Government, State of New Mexico, ABQ Public Schools, University of New Mexico, Central NM Community College, Presbyterian Healthcare, Blue Cross Blue Shield, Lovelace Healthcare, UNM Hospitals/Cancer Center/Level I Trauma Center/Regional Medical Center, Netflix Studios & Film Industry, Solar Panel Manufacturing & Renewable Energy Industry, Meow Wolf, Amazon Fulfillment and Distribution Centers, etc.