We have already been offered 209k for the land itself, and it's likely able to fetch a fair bit more.

- select markets will be stronger than others.

I would not to take on unlimited risk of a capital call from a management company I cannot change.What is the resale market like? 

If you happen to make a contact with a local agent who knows the market and is investor friendly, please refer it my way.

It's a great market and I'm sure you'll do well there.  

@Saulo Dias which markets are you trying to expand? 

If you are investing consistently, you will know what your market charges for the work needed. 

One of the realtors was skeptical that I can get into this market for $200k, and, I agree, it's a bit of a stretch, but with the pay cut I'll be taking going down to Texas, that's about as much of a mortgage as we can afford on one income.

Black market-  most economies that have something that impactful happen, causes the taxpayers to move to a black market approach.  4.

Market the property, rent it quickly, enforce late fees, and most importantly, treat it like the business it is without getting personally invested.