the property value is probably not going to go up but it seems it would always be rentable for at least $700 a month ($900 more likely) ORoption 2. get ANOTHER mortgage with a hard money loan and get a property that would increase in value over time. both methods will require rehab. both we want to buy and hold and rent out.I currently have 3 rental properties in the $150,000 - $250,000 range that all have been increasing in value and should continue to do so.option 1 would give us more diversified investment AND diversified experience. it seems like it would offer better cash flow but is also riskier 

The CoC return (based on $80-100k range for booking revenue) is projected to be between 28-46%.

Thanks for outlining good expected target range as well!

@Nathan Faucett I have narrowed my search down for what I want to primarily look for in the price range but I have not taken into account for the class range to be searching for.

I can also set alerts for when the temp setting is at a certain range.

We've thought about knocking down the price to $950 but other houses in that price range are in MUCH worse shape. 

Sell it and buy 2-4-8 properties that are closer to your “safe” price range.

You can still find deals on the MLS, you just need to be on a daily drip of new properties in your price range.

And if so, what is a typical range of cost, assuming that the city connection is relatively close to the park?

The income to expense ratio runs in the 30-35% range whereas its 50-55% in multi-family.