If it's in a business entity structure, then things look a bit different and a good bit better.Anyone who "has real wealth" is a potential lawsuit target.

What an excellent idea man to be used for anyone trying to target commercial property anywhere.  

HUD will offer $100 down program on FHA loans occasionally and in targeted areasThe program is for FHA loans and owner occupants only 

This is not a formal REIA, but it is targeted to our local market with an emphasis on networking.

Direct mail, every door direct, bought lists targeted at people with aging kids, bought lists of people with ARMs, HELOCs, you name it. 

For a hold, I would also make sure that your rents are on target with at least 3 property managers and see what their absorption rate is (ie how fast it will rent).In your reno, I would recommend you budget to put in another full bathroom, that will help secure your ability to rent. 

Also if they will both be vacant try  targeting multi-generational families,  could be a selling point if they want an older family member nearby.

I would ask in a separate post and include in your subject line "Looking for investor friendly banks in XXXX"  And let XXXX be the target area you are looking to invest in. 

If you folllow BP, you'll see most folks are targeting stuff that pays 2% per month of the purchase price.

Target a few homes and then construct a letter telling them you are an investor looking to purchase in the area.