Actual Cash Value:  The definition is the Replacement Cost minus depreciation.  

Edna~ I know you are looking to invest in cities closest to the Canadian border, however, I would encourage you to cast a wider net as you can find some excellent cash-flowing properties throughout the SE USA. 

Purchase price: $195,000 Cash invested: $35,000 Single Family home near Lake Texoma.

Needs about $50k worth of work. 

It's a cash business which means no one is screening these folks like they should.

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.   

.)-- Interest Reserve TBD-- 500 Appraisal (est)-- Builders Risk Insurance Policy TBDTotal Cash to close: 29172 + 6 months payments (not in escrow but demonstrated)You will likely need to wait 6 months to refinance.

(see photos)would this be worth buying or would you pass?

Raven,Reach out to @Lucia Rushton  I have worked with her on multiple deals to help her buyers and she is an investor friendly agent and understands value and cash flow.

Purchase price: $529,000 Cash invested: $132,250 3/1 and 1/1 duplex in Miami, FL.