For the typical decently maintained SFR it doesn’t matter if the home is brand new or 20 years old - no significant difference in work and no rate difference.

I like to study and review appraisals to help me better understand how to analyze a good comparable.

Does anyone know what I can and can not do to the creek bank in order to maintain it.

They can give you insight to what you are getting into.Consider contacting some GC in the area to consider process, expenses, and their experience maintaining these type of properties. 

They chose to close up shop.Having worked at lenders, hearing complaints from folks like you, I can only say "seen it, done it", and if I was a lender seeing a guy with a good story, like "the numbers tell me I should net $1,000/month", take it with a grain of salt, but insist on maintaining your requirements, unless you're a billionaire and writing off $150 million is no big deal. 

It is in excellent condition and nicely maintained and landscaped. 

Although I own them, they are pretty much passive as long as I maintain good tenants.

If you can find a way to diversify your 80k on multiple homes, increase your ROI (from appreciation), and still maintain a cash-flowing portfolio, then I believe thats the way to go!

Many people do that and it may make even more sense in states where maintaining an LLC is more expensive.

Hi @Bryce Littler, I have been studying the KC market for a few months and projecting a goal to reach in out-of-state by the end of the year.