Given this, and the fact that I don't know the area that well, I cannot be confident in the value of the property.I might make great cash flow for a few years.

If you are professional, confident, and have a good deal you will get the money.

You could improve your letter through confident writing despite being new to this.

@Jordan Smith I have not personally went through it but I think it is a great way to get started, especially with the recent increases in prices we have had here in Pittsburgh the past few years.

Appreciation is gravy and you will get that with improved operations and increasing the income.

It’s a small town, so values probably have not increased as rapidly as metro areas.

From my prospective this could help prove to the owner that I am confident in my repair estimate but also provides upside to the owner if they turn out to be right about the repairs needed. 

Leveraging will always increase your returns, in my opinion.

Stick to your principles, get the right tenant, and by the time you’re ready for the next one, you’ll feel much more confident about the process.

I’m pretty sure no such mutual fund that has increased 1300% in 18 years exist.