Yes, Its a poor town, but most towns around me are poor. :(  Thanks again fellow BPers

That product is not commonly purchased in residential loans away from newbies.  

There are plenty of poorly maintained, low priced rentals in our area that we don't try to compete with.

All they do is lending on real estate, and have lots of different programs and products.

There are conventional products for 3% down.

Posting a thread like this will attract all the providers and they will try to steer you towards their market and product.

My goal was to place a Semi-premium product to the market place.

The painting quality would likely be poor and that is the best case scenario.

We recently finished reading "Rich Dad, Poor Dad" which modivated us to find out more and led us to the "Bigger Pockets" podcast... 

Good post, I agree with you, i do believe a correction is coming, but with investors now having to put more skin in the game and not being able to drive up prices like they did years ago with no money down products and loose lending requirements, i dont think it will happen this year maybe 2 or 3 years down the road and that also depends on what region you are talking about, we didnt really feel the crash out here and we didnt experience the double digit appreciation either , i wasnt thinking of selling when i refinanced, a few months after i did it, my tenant moved out so that got me to thinking about changing my goals, i was in a 6.15 30year loan still paying pmi, so the fixed 15yr @ 4.375 was a better deal for me, and yes counting on appreciation is not good because its not guaranteed, i may end up keeping it because I like the idea of having it paid for in 15 years.