I'm looking at a low cost of living area that's plagued with a housing shortage. 

Speaking of appraisals..Unless it is a very low LTV or unique program/borrower most lenders will require a third party assessment of valuation or appraisal prior to providing a mortgage.

The seller definitely listed low to get a bidding war.

But, it also means more work in managing, tricky loan processes, higher start-up costs, and the risk of market changes.Lubbock, with its high need for rentals and low-cost living, is a top spot for duplex buyers.

Areas like these typically have low vacancy rates and high rental demand.

I live in an area with very large incomes, and low house prices compared to the rest of the country - there's dozens of cities and towns in Canada like this, so don't paint the market with a broad brush. 

Just got off with an investor who was about to wire us money from Yieldstreet but his account with them is now frozen until further notice.Apparently they use a third party to escrow all funds and that company has just filed for bankruptcy.This is really unfortunate for those investors who are exposed. 

The unemployment is low, has the highest occupancy for office buildings across the US, which means the area is fiscally very healthy.

This is DR Horton SFH, and is a newly built single story 4 bed, 2 bath that is surrounded by expensive MI homes. 3) Move into the townhome. 4) Use my $130,000 HELOC as an emergency if rent defaults do happen and save for a year until I reach my emergency fund goal of $41,000?

There is plenty of opportunity in your area to buy properties that have low interest rates, that cash flow and get you to where you want to go for retirement.