Low cost + high rent/value ratio.My market of Middle TN doesn't have any livable property for that price and the 1% rule isn't very realistic. 

These rates can get very high, but access to more lending unsecured if needed. 

Keep in mind that this comes with high turnover, and (often) students who will beat the hell out of the property!

I'd keep 70% as a base and shoot for 90%+ on the high end.I think I'd be pretty happy with 90%. 

If you really like the place but you feel that it is priced too high for your budget, instead of saying “it’s priced too high” and insulting the seller, simply say “I absolutely love your place; it is exactly what I want, and I’d really like to buy it.

Communication is highly important to me as well. 

I highly regret not being further ahead of where I am currently financially to where I could provide more comfort to those I care about during their vulnerable times in their life.You see, wealth is not just about you.

The owner said he would sell but at a very high price.

About me, most of my assets are RE but in another market so I would be diversifying in that market.Potential for appreciation is very uncertain: prices have risen a lot locally lately and are as high as they have ever been, and it’s unlikely higher prices would be affordable by locals.

Be sure your lender is comfortable with this, as many fear giving folks primary loans for properties they view as having a high probability of being turned into a purely investment.