Hi BP Fam, I have been doing some market research and I have narrowed my potential markets down to the following five markets; DETROIT, MI,AKRON, OH, CLEVELAND, OH, MEMPHIS, TN, and MILWAUKEE, WI.

Max price is probably around $4M (unless seller wants to agree to a small portion of seller financing) and I've narrowed it down to Columbus Ohio for my initial market research.

I rented out rooms in the property on Airb&B and paid the mortgage.

Sleeper market, good house, decent return profile, and to rip the band-aid off on our first purchase.How did you find this deal and how did you negotiate it?

Havent narrowed it down yet.

I think I have narrowed down some really good options.

If you are going to pull a HELOC on property A to acquire property B, and plan on refinancing property B to pay back the HELOC on property A, then you need to somehow add value to property B so that you have cash to pay off the HELOC.

I also noticed the transitions from poorer areas to more B and A class areas.

That very much narrows down the choices for most people.   

You will narrow your market a little bit but plenty of younger guys, working professionals, etc don't cook much anyway....