The property has to be in livable condition as well. 

If you have or qualify for disability that happened during your time with the National Guard that can increase your benefits as well.  

Well........they sent a picture of a section of the roof, some of the shingles are u and guess what- NO insurance on it now.    

I'll be more selective and avoid renting to those with emerging credit or uncertain financial situations.

I can definitely say that while the bigger fire we had was a pain... it actually worked out really well... in the end we had a much improved property, and we stepped in and did as much of the work we could do ourselves that the insurance company was compensating us at  'retail' rates for... like painting, and replacing cabinets, and other simple tasks.  

I have nice portfolio of rental property in the Memphis area as well and constantly selling good investment property deals on & off market to my clients!

It also has considerable risk involved as well. 

I am for sure biased but I would highly suggest using a real estate agent that is a) familiar with that community b) is well versed in selling to non-Mexican citizens and c) has stellar reviews.

I think this program is an incredible way for new young investors who might make under the income limit, to house hack in high cost areas, which will appreciate well, and then afterward they can buy more rental property potentially in cash flow areas.   

Aim for 6+beds and theme 3 bedrooms strongly and you should do well.