Watch for announcements of major employers moving into the area.  

It seems that I can't go the conventional loan route under my personal name because I have no W2 income since I was self employed for the last 10 years and I have been transitioning out of those business endeavors for the last 2 years therefore I have no real income to show.

I'm self employed currently but I'm looking to sell/close down my business.

So the BRRR there isn't AS attractive to me.It's hard for me to imagine a market with a good employment base not at least keeping pace with inflation.  

@Jon Lanclos I rent STRs to contractors working at CVR Refining in Coffeyville Kansas.The most common thing I hear is every Monday morning when doing pre-employment drug screens for the refinery is "I wish I would have known about your furnished houses yesterday". 

I am also totally self employed and putting together a financial statement at any point during the year is easy in Quickbooks.

@Matthew Paul - yeah I'm not exactly sure what happened either, the PM is supposed to send me some photos so I can get an idea of what kind of cover is over the pipe (AC Paving, concrete, landscaping) and how long the length of replacement will be. 

Right now economy is good, stock market is high, unemployment low so the possibility your family/friend tenant will have Employment issues are low. 

Or possibly roll it into the 401k I have with my current employer where I can take a loan against it? 

I’m currently a student at CCSU (Central Connecticut State University) and am employed as a dispatcher for a local police department here in CT.