Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

I've been quoted by a few however some declined coverage for being a log cabin semi close to the lake and a 2nd home or did not cover loss-of-rent.anything works!

It was built in 1997, in an HOA community (monthly cost of $225 covers external home, water, trash) and has had updates to the HVAC system, new kitchen cabinets, floors on one floor (three floors total), and appliances, new toilets.

You'll have to pay close attention to your screening and that all of the tenants are similar type people.

I don't know about labor but do check your insurance to make sure you are covered for working on the property.

Assuming you can cover a decent portion of the $60K from the 401K loan, get some sort of loan for the rest.  

Does anyone list particular debt limits (like, "no debt in excess of $1000 that isn't in a payment plan") as part of their screening criteria?

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

The HOA covers exterior/roofing, parking management, landscaping, and pools. 

My plan right now is to stay at home for a year after college and save as close to 100% of my salary as I can (parents are happy to cover a lot of my expenses).