It is also about maintain a healthy margin. 

Wherever you end up choosing, it'd be best to add some healthy repair & vacancy contingencies into your underwriting.

Huntsville has a healthy economy and is increasing in population.  

The idea is for farmers (mostly organic) who don't want to produce at an industrial scale but focus on healthy food.

We dont want a balance on the heloc so we always have a few exit stratergies and make sure we have a healthy cash reserve to cover monthly debt payments. 

I don't see a huge benefit to using one here.Based on everything you've posted so far I'd submit a LOI with a healthy study period at $525,545.Be sure to come back and let us know how it turned out. 

Separate the wheat from the chaff.When you meet them in the street, just say hello with a smile--you never know-- your next painter (or other) might be their cousin--recommended to you by them, as that nice landlord.Good Luck!

I maintain a healthy 1.5+ DSCR on all properties. 

learn "Power prospecting".learn to represent yourself.study all expired listings in your area.Go to housing court to find motivated landlords.attend real estate auctions, take notes, network with other investors.DON'T bid unless  you are sure you can get it wholesale.Trust only your Mother. be kind, smile and have fun as you learn this business.Charlie

It appears to be a good investment if your NOI is healthy and property values increase significantly over the next few years, regardless of rent control requirements.