I iive in the City and work the region for investors. 

St. louis, MO and the Midwest region continue to be recognized nationally and locally as top areas to start a new business.

That eliminates any kind of zoning/ STR permit requirement, making the whole thing easier to accomplish, and opening up the entire region to you!

Was this SLC proper or any of the surrounding regions? 

The property size/type and the geographic region that you're looking for deals in will definitely limit your deal flow. 

So if we can get a good price on this first one, it's a good investment move regardless of if we go through a correction.I'm not expecting a crash, but regional corrections and the occasional crash will happen.

This will vary based on region but in general 2 – 5 points, 11% - 14% APR (meaning this is the annual rate so divide it by 12 to get the monthly interest amount), and documents fees can be from $600 – $1,900.

But on the refi she put the several HUNDRED THOUSAND of her initial investment back in her pocket and ready to invest in another property.There’s a real sweet spot in demand right now for efficiency units and 1 bedrooms around $1,200 a month, literally anywhere in the region.

If it is market value and he won't negotiate on the issues then I would move on.To rewire a place would probably be in the 15k range but that is hard to say as regional costs vary a lot.Also, you should be able to take advantage of the FHA 3% down financing if you owner occupy.

And to Mike's point, it varies by region: TX for example issued 126,000 new building permits this year (while the market was still running on 3% interest rates), meanwhile Wisconsin only 6,000.