If one had enough income to cover all their debt payments outside of rental income then reserves would not be as necessary as someone who relies on rental income to live on.

I live in the Grand Rapids area as well.

You can get top dollar likely, but it still needs to be reasonable and comparable. if it’s a declining town with not many attractions or amenities, then it’s likely there’s no rentals available because nobody wants to live there. mot sounds like you may be describing more situation #1, in which case it’s a ripe opportunity if you can get a deal on a property

See where they currently live and drive by.

I live in Nashville TN but am looking to invest in Dyersburg Tn, as of which the housing market is significantly lower due to a much lower cost of living.

Thank you for the reply.I live in Bay Area. 

Linden and live in it with my family a year ago... 

I built up my runway and have the skills to buy and rehab in a desirable area near where I live and work and then hopefully rent two rooms out to roommates while saving for my next house.I’ve been watching the market for two years now and know which houses are good, what they will go for, and how quickly. 

I live in Denver,Colorado. 

Also, if you haven't already, make sure zoning laws allow for that use, and that there is no code provision that prohibits a certain number of unrelated individuals to live in a single residence.