Cities like investors who come to them, check the rules, follow them, and produce good product.

We're in the biggest bubble ever produced.....I'd be patient and wait.

Otherwise it is probably going to be a money loser, or making so little money that it's not worth the time unless you are rent shifting, which is evil but is how the large PM companies manage to make these properties work.Most of those higher producing properties are in the resorts.

I cannot find good cash flow properties that can produce these type of returns.  

I'm selling my primary home which has a $1700/mo income producing rental used for MTR/STR.

Anyways, I am a single mom of a 2.5 year old little girl, and at the age of 32 have finally gotten to a place where my financials are in order (I graduated from college a bit later in life after teaching acting and producing plays throughout my 20s!).

Lenders have expanded their guidelines to allow for up to 85% financing assuming healthy credit and income is producing above what the debt obligation would be for the home. 

Value is a function of the income the property produces.  

You want to make sure as a long-term hold it will produce 5%+ CoC return, and once you finish renovating & stabilizing the property, it will be worth at least 15% more than you bought it for.

Also consider the mix of assets in that is one producing good cashflow and another appreciating above average.