I know nothing of the area there but keep my eyes glued to the MLS in the Ferndale vicinity.

I'm looking to get a second, third, etc set of eyes on this deal.  

Not a good problem, forget the tax implications, what is wrong with this applicant.I nearly lost an eye when the red flags popped up on your post.They usually say it is more convent for them or they have the money and want you to feel secure in renting etc. but then there is always a catch.

The Boise Meet Ups are the first Thursday of the month at 6:30 pm at Title One in Meridian off of Eagle and Overland, 1940 S.

Not to mention the eye sore from other neighbors and all the possible complaints.

For those interested in going outside their sphere of influence (Bigger Pockets) as a supplement to increase their resources for building capital; I found the Gale web site with the search engine to identify a multitude of directories...one in particular that caught my eye was entitled or had the gist was "early investors (e.g., comprehensive listing of angel investors, etc.).

It seems that the prices are pretty high right now since I am not the only person trying to do this.I was thinking that perhaps I should keep an eye out but just start saving up capacity and collect information on this and wait for the next recession to do this.

The idea of taking the neighborhood's eye-sore and flipping it into a grand profitable property instantly hooked me.

If you have a property that is positive cashflow - then you can sit out any market downturn and simply collect rent checks while everybody else is freaking out - and you may even be in a great position to purchase even more cashflowing properties at their new deep discount prices - hang in there and keep your eye on the market and continue looking for properties that can produce income.  

To the untrained eye it literally looked like a million bucks.