After getting everything stabilized and looking deeper into the actual numbers there were a multitude of factors that led us to decide to sell.

Of course, there are several other factors like, if you take over the payments what is the rate and remaining term, etc.Here's an example of a "no equity" property that we recently "overpaid" for:Purchase price $180k - purchased subject to the original mortgage which was a 3.25% loan with a PITI payment of $940. 

While I acknowledge that economic strength is just one facet of a good rental market, it is a major factor and I wanted to share what I've found (the details of my methodology and raw data can be found after the various rankings):Top 10 best economiesProvo-Orem, UTSalt Lake City, UTCharlotte-Concord-Gastonia, NC-SCChicago-Naperville-Elgin, IL-IN-WIDallas-Fort Worth-Arlington, TXKansas City, MO-KSLongview, TXLouisville/Jefferson County, KY-INSan Francisco-Oakland-Hayward, CABirmingham-Hoover, ALThere were two main factors to overall economic strength that I looked at – how diverse/broad the economy is and how many economic drivers (i.e. strength) the area has.

@Angelo Van - If you are looking for starting up advice, check out this post.For expenses to factor in your rental calculations, check out this post.

back in the day when i drove a bunch i always bought used Mercedes turbo diesels.. in those days diesel was cheaper they ran for ever .. and were very safe. you could buy a used one for the price of a new toyota or honda.

I have some very good lender contacts for vacation homes.  3) Success will be contingent on a number of factors. 

you can get 80% on a 5-7 year term but credit score DSCR and occupancy rate will be determining factors. 

Your safety is the most important factor in all of this.

But be clear that rent must be received by you no later than the due date and that they’ll have to factor that in if they’ll be mailing you a money order. 

I'm not as familiar with Beckley, but in Huntington, Charleston, and Eastern KY the house is just as likely to lose 2% as it is to gain 2% so I don't even factor it in.