Some told me that they don't loan in that city and others told me the value was to low.

With all due respect to the development big firms out there, my project is very small and I believe I'd be best served by a small firm or even one-man shop, and frankly a bigger firm will likely not have time for a small deal.I simply need a low-cost conceptual plan that I can use for marketing to builders.

Not really because the price you typically get with a REO is not low enough to wholesale.

They are a very good brokerage with low expectations from you, hey are quick to respond and the tools they give you are great.

I do not have personal experience investing in flyover states, so take this with a grain of salt.This is my 'gut reaction,' which could 100% be totally off & I'll defer to those with actual experience 100%...Any place you are buying that has tenants paying 2x in rent what they could otherwise pay in PITI because the [ $70k * 3.5% = $2450 ] down payment is too much of a down payment for them to save up, isn't exactly going to have high quality low maintenance intelligent people as tenants. 

@Josh Lowe I've wondered the same thing!

I live in the Seven Hills area so I am hoping to pick some brains and possibly meet some seasoned investors around the LV area.

the necessary repairs are as follows:  water heater missing, furnace looks old. paint all rooms, new flooring needed in most rooms, ( something i can do myself), recondition kitchen, replace entry doors. the house already has a newer roof and newer vinyl siding, virtually no work necessary on the outside. given my rehab skills, nothing will need to be contracted out, so i am able to save a tremendous amount of money on the rehab, which is why the following rehab number is so low.

Account Closed Not really, I would much rather go through a PML, or JV with another investor in the area, that is a little bit more seasoned that I am to show me the ropes as well.

I am looking at two low income properties and just trying to thing of all the worst cases.