I hate when people say "I can't find a deal" or "my market is to hot," etc....Obviously its too difficult to compete with the people who flip 20+ properties a year.  

On the 3rd Sat. of the month we have a MeetUp for real estate investors in Hot Springs.

And I completely agree in regards to the deal being a little on the thin side, however, if I'm only coming out of pocket approx $24k, (including the 3 points) and can make $10-20K, (hopefully in 6 months), I'm ok with that.  

Atlanta area is hot right now.

The next step would be to work with the Realtor and determine the hot markets, in your County, with the greatest number of sales over the last 90 to 120 days.

Placing siding over the stucco is a possibility but the expense could be just as much as the stucco repair.

Everyone has covered the owner occ/versus primary residence piece and the county by county millage difference.However the other side of the coin must also be considered in order to evaluate.

@Margaret Salerno do you have a price point in mind that your looking to spend as Lakewood varies greatly in price.Depending if you buy on the east or west side of Lakewood, your tenants, rent and the entry price will vary. 

I will have to look into wholesaling more, it seems like a win win for all sides, although I am sure there is much more to it.  

There are different players depending on what side of the river you are one.More more information on the great divide give this a read.The Rivalry: Cleveland EAST VS WEST