I’ve got about $25k cash, $60k in credit lines, good contracting and industry experience (did multi-family portfolio management for a while) and no job (so no mortgage opportunities).For you MN folks, what’s the bottom of the “crappy but not tear-down” bad?

If you are intending to give tenants a break or free ride the first time there is a problem then put that in the lease.If you are not going to honour and abide by your own lease why would you expect your tenants to honor the same lease.

Even though I intend to occupy the property, they require that I already be in residence before they will close on the loan.

Military Deployment Orders / PCS:The Servicemembers Civil Relief Act (SCRA)is a law that is intended to help protect the legal rights of members called to active duty.

The prices are much more affordable and I could scale a rental portfolio much quicker than in the city/suburbs, just wondering if they are too risky with the lack of employment opportunities in the immediate area.

Finally opportunity is coming back.

I recently rolled over a 401K to a Self Directed IRA and have an opportunity to buy a house in a somewhat rough area, but a solid house with good rental potential.

When I bought my house I don't recall anyone ever telling me that or reading it, granted I wasn't looking as I intended to be here longer. 

I found BP earlier this year and immediately knew I wanted to create a life that would lead to more/better opportunities to eventually invest in real estate.

There are many challenges that I'm sure I'll run into and I'm really excited about the learning opportunity but worried about the feasibility.