Different states have different rules for Statutes of Limitations.

One of the BP podcasts in the past few months (year maybe) had a guest who talked about submitting offers on properties that were “flexible.”  Something like putting in a offer of $140k and will beat any other offer u...

Now that property is isolated within the limited liability buffering of the entity.

Some places will require # of years prior to leasing, applications, leasing term limits, and number of leases in a year.

Also, expect them to limit the rehab costs at 50% of your purchase price. 

I believe, Vista limits the size to 850 sqft "or" not more than 1/2 the size of primary home.   

(its not on the triangle MLS yet)  It is in the Raleigh city limits so the acreage alone is what caught my interest.The intention then would be to either a.) 

Have you asked your credit card to raise your limit?

I typically figure 3% and I'm usually pretty close.With that being said though, I have heard of people buying a property and only making $100 a month cash flow, and I wouldn't waste my time on that deal either, because my liquidity is limited.   

Also, the fact that there are limited comps is a good sign that other investors like what they have in that area and want to hold.