There's a particular type of carpet fiber I avoid. 

There are a few neighborhoods I would avoid.

Avoid operation of a private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, racetrack, gambling establishment, or a store whose principal business is the sale of alcohol for consumption off premises.The 4th requirement is of particular importance with regard to the real estate company in your hypothetical. 

Or seek capital from friends and family to avoid the PMI and get a conventional loan for 20% down?

I have avoided them and know that at the LTV of the original note that the second lien is more or less worthless.

Again, with no credit to get your line started, a co-signer may be required if you are firm about avoiding an asset based transaction.Jim Johnson is a Pro Bigger Pockets user and I would be interested in the Cash Program he is talking about myself, if they are risking $100K unsecured without credit. 

Between the taxes, poor building administration, heavily tenant-skewed laws, low influx of new residents, high supply and plenty of other avoidable and absurd issues, you will never have a piece of mind.

BUT we sold the place to an investor friend who did the repairs & the tenants still there paying on-time (we hold the note & she direct deposits) but dog is long gone.I avoid any flooring below 12mm but negligent surface damage is going to happen regardless of the product.

We've been buying more and more product in Chicagoland and prefer to avoid Cook County, when possible, but, if we find a good deal, we'll bid on it.You have three main factors that affect timelines for NPNs in judicial states: the courts, the foreclosing attorney, and the noteholder.

There are way to move properties into asset holding companies that will not trigger a due on sale that you may want to explore due as moving the properties into a trust.A transfer to an LLC will trigger the clause and should therefore be avoided, even though banks are hesitant to ever foreclose as long as the note is being paid.