Purchase price: $2,231,600 Cash invested: $119,503 12 unit townhome style complex with covered parking.

@Poonam HemrajaniLeander TOD (Transit Oriented Development) would be one of my top choices as well.

If so, does a conventional or VA loan offer a type of rehab style loan that would not be subject to this rule?

They should also nearly identical in the number of beds, baths, sq ft of living area, garage, basement, acres, style, age, etc. 

You can also find newer styles of the old school 12x12 vinyl tiles many of us grew up with in high school hallways that, with wax, are nearly indestructible, dead simple to install, and watertight.

And your reasoning for this renting style?

Where can i find next-door-style comps?

Now, they might have their own portfolio style of loan but the main point of HML is that they can close VERY quickly...sometimes in a 3 days....and they can provide 100% financing in certain scenarios.If you are using the BRRRR strategy, keep in mind that your REFINANCE step will usually have a LTV limit of 75% of the ARV. 

Is there anyone putting there money to work turnkey style in any other states?

Built in 2005, this was a move in ready 3 bed / 2 bath, ranch style home with a 2 car garage, fenced in back yard, large deck, and great front yard.