Make sure the family is good on this transaction happening at the right price, it could get uncomfortable if your dad gives it away to you in the eyes of the family.

And one area that I’m keeping my eye on is Franklin.

LTRs may face eviction issues, their consistent income makes them less risky in the eyes of lenders.

I don't have any properties besides my primary residence yet, however I've been keeping an eye on the market.

thanks for the replies, to clarify a bit more, I'm mainly looking for an agent who can be my eyes and ears in the case I'm not able to be there in person to view the property.

But thank God for them bright eyed, passionate, new investors are not rare.

I've even had the chance to secure cash-out refinances between 6.00-6.50% lately - keep an eye on the 5-year treasury, as 720+ credit and $100k+ properties will be eligible for rates that are about 2.5% over that daily treasury rate. 

Working with a knowledgeable real estate agent and keeping an eye on online listings can also help.

If you’re confident in these numbers, it could help mitigate the risk.Exit Strategy: Your plan to refinance after construction is solid, but keep an eye on where interest rates are heading and ensure the cash-out refinance will cover the HELOC without leaving you in a tight spot.It sounds like you're on the right track, but if you're still feeling uncertain, it might be worth consulting with a local real estate professional or financial advisor who can help you analyze the deal further.

For those out of state who want to invest in Baltimore , do yourself a favor research the area well , put your own eyes on it , run your numbers , then run them again .