I also believe they are starting to soften a bit, so you couldn't be getting in at a better time.Feel free to DM me if you have any specific questions. 

If the market softens, I think that there will be some good deals out there for investors.It's still an incredibly stong market (and a cool place to live). 

I try to steer most of my clients away from the "up and coming" areas unless they are more experienced and capitalized.Currently, the MLS market is very competitive and the wholesale market can be predatory, but the MLS should be softening over the next month or two and we should see some price drops or more opportunities for better negotiations.Over half of our clients right now are BRRRR'ing properties or doing some variation of it.

Option 2- Is pretty much the same as option 1 but to get a FHA 203k 30 year loan and try to squeeze as much forced appreciation out with updating counter tops, bathrooms, new paint on the outside, new water heater, installing a water softener and possibly new AC. 

I predict the vacation rental market will cool significantly in the Asheville area over the next five years primarily due to an insanely sharp increase in available rentals (we're already seeing significant softening of demand) , and will then tank if we get a recession. 

By doing so we can save a better cushion and hopefully take advantage of any market softening.

Checking a credit score i soften required by a HML as they know some rehabs will not be sold and you will be stuck renting.

As a short sale guy I have multiple deals and can send you the HUDS where I negotiate and KEEP and willing and able end homebuyer all the while negotiating stupid water softener liens....lol, HOA's who are stubborn, 1st, 2nds, child support judgements and a host of everything else to get to the finish line.

You will want to put a bag of salt in the softener every month.The city actually is running a special - helping with the connection from the meter to the house.

Some tips, set the boxes in the sun a few hours before use to soften the glue so it sticks better.