This allows us to maximize returns.Strong Growth - The Southeast, especially cities like Huntsville, Atlanta, and throughout the Carolinas, are experiencing rapid population and job growth.

So does the LOI contain a clause allowing the buyer to back out if the financials are garbage?

There's plenty of solid markets in the mid west from Pitts, PA to the Rocky Mountains that allow investors to enter the game in the appropriate way. 

This could provide a steady stream of additional income while allowing you to stay in the home you like.Short-term rental: If renting out a room isn't feasible, you could explore the option of short-term rentals through platforms like Airbnb.

@Barrington SmithI use this equationto back into my maximum allowable offer (MAO)ARV - Rehab Costs -Holding Costs - Purchase & Sale Costs - Desired Profit as a percentage ofARV = MAO

A DST is 1031 eligible  hands-off, institutional grade real estate investment (apartments, self storage, commercial, medical office, etc), that allows the investor the option to diversify into multiple markets around the country.

Also many PM companies do not allow applications provided to tenant to be re-used.

Buy a home with as many bedrooms as your budget will allow in a nice enough location and rent all the rooms.

Speaking from experience, I would not allow anyone to move in unless I have all signatures, security deposits, first month rent, etc. 

My ability to sell a liquid index fund allows me to cut my losses very fast, at low cost.