If you could do your cash out in 12 months, I think you would be in a better position for hard money.The second obstetrical you will face is that the units are a ways from Charlotte the next closes population center of 100k or more.

Not sure they would do your loan unless it's in a highly populated part of Idaho.

It's also a good idea to compare appreciation rates and population growth, etc. of each market to help mitigate risk, as some markets have good "deals" because of market decline.

I guess I forgot to mention that low lot rents in that range are ok if the population in the area supports.

Another question you want to know the answer to would be, is the neighborhood up and coming (growing in population, ...etc) or is it losing population?

There is high populations on the coasts and they are renting, because a million dollar home isn't practical. 3.

Population Growth2.

Once you figure out which market you are most interested in due to certain trends like population growth or job growth etc.

The unscrupulous investor will:Have the homeowner sign a Quit Claim Deed in which the homeowner signs over their ownership in the property.Fail to explain to the homeowner that they, the homeowner, are still responsible for the mortgage.Fail to warn the homeowner that they could be violating their “due on sale clause” with their lender.The homeowner is usually elderly or part of an at-risk population (English isn’t their first language, disability of some kind, etc.).The Division advises the following when it comes to these types of rescue transactions:Don’t sign any documents or a deed to anyone until you have had a chance to talk with your lender and an attorney about your mortgage obligations and your legal rights.Colorado has a Foreclosure Protection Act that affords you certain rights when you are financially distressed.It’s best to take proactive steps when you first start having financial problems, and here are some resources that you can contact:Colorado Housing Connects – Colorado Foreclosure Hotline – Colorado Bar Association “Find-a-Lawyer” – Colorado Legal Services –Disability Law Colorado (Formerly The Legal Center for People with Disabilities and Older People) 

The Book on Estimating Rehab Costs comes with a spreadsheet that you can use to help you populate your own database of labor pricing and material pricing.