Michael,Market's definition is dependent upon the population size in general, but you should also look at the supporting factors such as the infrastructure, job market, etc... 

This purchase was the result of developing a great Landlord/Tenant relationshipThis was not ever an option lease.It is now our primary home at our long time established community since 2014We are skipping the moving boxes shenanigans for now, yazz!

When you ran the deal through your calculator, the one you will use your HELOC for, do you factor 0% down to account for the interest on the down payment money, if that makes sense?

I agree with @Eric A. for sure about making sure to keep some extra reserves on hand and factor in a monthly maintenance allocation. unless you're already doing that of course, just wasn't clear.

Thanks Jay, I hope you and your family have a wonderful thanksgiving holiday weekend as well. when you watch it you will see the lady that took  them down was working on an Island in Clear Lake CA.. were my dad was a developer in the 60s and that island was the center of many land deals.. it could NEVER be developed but the lady had a dream and Remington just led her along.. big mistake

What you are referring to is a construction policy  which could run you closer to $400-$500/month depending on several factors such as scope of work, renovation costs, size of the property etc.

Oregon has many rules.. one that most miss is that you need a developers license to fix and flip homes.. unless your a GC.. but as investors we need those..

You just have to factor in a higher rate when running your numbers. 

Depends ona  few factors mot importantly is whether or not its vacant.

Eventually, if you are trying to get hard money or a credit line, this becomes much more of a factor.