The details of the credit report are more important to me and solid Landlord references carry even more weight.

I am looking for primarily a roofing contractor in Cedar Rapids.  

After that, everything should be clearly laid out for you in advance and you are given a chance to weight different options.Do you intend to invest locally or out of state for now?

2008, or 2009 - depending upon your official start time - and we're already seeing all the usual Markers - Business Bankruptcies are accelerating, tax collections are shrinking, the bond market is going bananas, rapidly shrinking Corporate Profits, and a slowing of new home sales.  

Nampa is experiencing rapid growth, as is Boise and the whole Treasure Valley.

It needs to sell for $490k after $70k of upgrades for me to lose 35% (equal weight on the downside).

I've just seen a lot of rapid turn over. 

So, your plan is to find and purchase a cheap property (those are the kind of properties that have high day 1 cash flow), with no prior history of appreciation (which is why it is cheap), that would magically start appreciating rapidly the day after you close escrow?

@Michael Cohen,Yes there are what is known as "weighted" scores.

I think you should weight the two before making a move to sell.