FHA will not use any short term rental data.Something else to think about - any reason why you wouldn't use a Fannie Mae loan here?

From what I've researched, it's the less than ideal situation to be in because of the reasons you've stated.

To clarify your question - BP is not syndicating any deals itself so the reason for the charge for PassivePockets is charged on both the syndicator side and on the LP side, though LPs pay a marginal amount, less than $500 annually.

I live in NYC and started investing in Buffalo a few years back, mainly for the reasons that you mentioned. 

Another reason to not like a PM is that there is no incentive for them to save you money.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

Unless you are going for a specific look, there’s no reason for an expensive toilet.

I want to share with others that I called the Attorney for D32 today and she stated that the storms knocked out the internet and the offices but it was not a reason for any delay on the return of deposits. 

And DIY repairs are not recommended for other reasons: it will take you much longer to complete, depriving you of rental income, and you run a high risk of your wife becoming your ex-wife.Same risk exists if you push your wife into becoming a Realtor or some other real estate activity just for the sake of tax benefits.

I don't want to get into specifics but we passed on the property for a couple of reasons you mentioned.