We had population declines when the auto manufacturing declined in the area, leaving behind more houses than families.As a result, there are lot of low priced homes available in decent rental areas.

The price range is $1,300-$1,500.We have two dogs so the carpet is a bit worn, on a scale from 1-10 probably a 5.

Start small and then scale up as you gain experience.

This will give the house much larger scale and stand out against your competition.

Hey Lucas,I had a somewhat similar situation but on a smaller scale.

I can't find a property worth buying here where monthly rent is 2% of purchase price; instead, I have a sliding scale based on area, projected maintenance costs over next several years, and potential appreciation.

The production costs of running a grow operation in the boonies in Humboldt will eventually become a long term prohibitive factor once large scale production starts elsewhere.

Simple preference aside, renting is easier and scales more easily than flipping.  

Historically, on a national scale, median home prices average about 2.2 to 2.5 times median household income.  

I'm exploring the possibilities of being an HML (starting off on a smaller scale), and I have a few "newbie" questions for those who've done it for a while.