Single-family homes are generally more affordable and due to the higher demand and focus, they tend to appreciate more than MFHs.The valuation of single-family properties focuses more on supply and demand factors while MFHs are valued based on the rental income and the conditions of the property itself.

This leads me to think that in order for this to work I need to find a property in a pretty bad condition for a pretty sweet deal. 

That said, some portions of the projected $30k in DP funds will be coming from accts that satisfied said conditions.

My hopes were to hopefully buy the homes in poor condition cash, perform the renovations cash, rent them, and then refinance.

@Frank Ma - Age, condition and mechanical details of the building and what that means for differed and future maintenance:  flat roofs, central chiller, age and condition of ac units, etc.What is the unit mix and is it appropriate for the area?

It was about an 8 out of 10 as conditions go, almost turn key condition.Before I met with the seller he told me that he needed cash fast because he has to leave the country.

To answer your question it depends on the exact location since it can be very rural just a few minutes outside of town & also the condition.

Fast forwarding to moveout, we cleaned the home to a very respectable living condition and notified the landlord we would be out mid-afternoon.

Joel - 1) I would recommend  getting an idea  where you stand  based on your  current income  / assets / credit  so that you can  establish a present " baseline "  plus  so you can make sure  that there are no wrinkles on credit  scores / history 2) if you have any specific  scenario that you are targeting -  getting  a  conditional  pre approval   using whatever scenario you want to use - should be possible  ...this will allow you  to confirm if the plans you have are  valid and  have a chance to work 

If you find none and are satisfied with the condition, refund the tenant as much as you see fit.