Sterling,Each lender is different on how they calculate income and also what overlays they have that can cause a bad income calc. 

Yes a stay in a potato is interesting but if there isn't much else to do around there, it will be a bit of a loser.Remote isn't always bad.

I can't remember the cost, not too bad, but no phone callsI sent out 1,000 mailers (letters) I designed in envelopes a week for a couple of years and made a ton of money buying properties using "creative finance" some call subto.

To invest in Section 8 housing, look at areas such as Cleveland, Columbus, Cincinnati, and Dayton, choose safe neighborhoods, study Section 8 standards, analyze property types, and explore financing choices.

In terms of distance I will be about half hour away so not bad at all.

Many investors may shy away from this investment because of that bad tenant.

I've been trying not to reply to so many posts about this, but also need to watch out for rookies to save them from losses.The other thing I don't like is that so many folks interested in this usually have very little extra capital and could lose some or all of their "extra" capital on a bad wholesale deal if they made one mistake. 

Not that that is a bad thing as some are on lower comp plans but they are at the mercy of all having "overlays" and have to sell their loans.

People say they FEEL a property is right, or wrong, good or bad as an investment property.

Another work around that isn’t discussed much is working on a strategy with your insurance company to protect your other assets in the event of a claim.But also, it wouldn’t be a bad idea to consider getting the financing into your LLc name with a community bank and pulling cash out if you have substantial equity.Right now, since the loan is in your name, it shows up on your personal credit report.