@Sean Bell Go to the Rutherford County website, Planning and Engineering, and download the Zoning Ordinance and also look for Building Codes or Subdivision regulations.

I think the regulations need to be updated and refined - as it is right now anyone can get a certification from a doctor that they need their ESA - for a few bucks on the internet.

You'll get eaten alive.I know it looks tempting to compare regulated rents with market rate and start fantasizing about the potential property, but it is incredibly difficult to make that a reality.

I would say in this low yield environment you could negotiate it with the right property.

Similar to what's been said before, keep in mind a few things though - -VA Loans are intended for Veteran Owner Occupied properties and have several regulations.

This produces an environment of consistently high demand and low supply.

Would defineitly like to talk with you and pick your brain on the environment out there.

I understand the regulations for REfinancing, but i am slightly confused about the lender's time constraints on free and clear properties. 

If the entire neighbourhood is a D class then likely hood is potential tenants are accustom to the environment and probably accept it as the norm.IN C/D class neighbourhoods the prices are what they are based on the community as opposed to individual instances of violence in a specific building.

The HECM is FHA insured, thus the regulation.