Very easy to navigate & cheaper than others.

I should also point out that dumb contractors were the second leading cause, but that is a story for another topic.The good news is, after you get additional experience, you will be able to find much cheaper private money or will have sufficient capital to just do it on your own without any concerns.

So the first thing you need to ask yourself is the question about your value-add strategy - do you have particularly good access to excellent deals, is you contractor better/cheaper/faster than what is otherwise available on the market, is your sales team killing it/ etc.?

Condos are a lot cheaper than single family homes.

Single family houses might be cheaper, cause the appraiser will not likely have to do the income valuation calculation.All in New Orleans, LA.  

dose this building fall under historical rehab tax credit or can you put in place cheaper material and do capital impovements along the way thier many ways to save money on rehabs just depends on how much labor you want to add thier are many second hand supply warehouse in STL and surrounding area I understand the money hardship and bankruptcy will destroy you ( been thier done that, not cool) you can look at hard money or saving money on labor and material by doing it yourself just some ideas. .... good luck steven

Folks in LA & NY can't afford rentals in their own area so they look to the cheaper markets like Memphis, Michigan, PA, Cleveland etc....

Every market is different though, like where I live I can rehab alot cheaper that investors in California.  

The LOC is always going to be cheaper.

CA is a very tough market, when you leave uncle sam, maybe you want to join another uncle sam branches like corrections somewhere in Bakersfield or Riverside where houses are cheapER.