The majority of the housing stock in that town was old and run-down.

Does the association have enough reserves to cover major issues, like a new roof, windows, siding, boiler?   

It is very common in suburbs to have no major local employer, beyond schools and other city workers. 

You mention UDFI not being a major concern but what about UDIT if I decided to finance? 

bond for deed if I have not heard of this I would think the vast majority unless they are LA agents or investor have not heard of it and are confused with your title.. 

We have all witnessed the major appreciation in the Bay Area, but that doesn't mean the same thing will happen in Indianapolis or Boise. 

Most importantly, does any of these submarkets have any economic anchors  like state government, major universities, major health care centers, or manufacturers that are independent of the economy like military suppliers that employs most of the residents of that submarket?

As far as cooling off period, I refinanced with a major bank after 3 months.

This includes the vast majority of residential landlords who own their rental property as sole proprietors (who individually own their properties), limited liability companies (LLCs), and partnerships.

Those are some of my favorite types of deals too, I do prefer to buy the ones with MAJOR problems as they tend to yield the most return while taking the smallest amount of effort to acquire.What part of town is your "niche"?