Time is a big factor to me.

I deal with a lot of vacant and abandoned properties.

I do have a pretty flexible job so I can move things around in my day if I came across an ideal flip.

Are there factors that should be considered that aren't so obvious in buying a space?

When I deal with friends and family, I vet them to see how financially savvy and well off they are.

Cons:Illiquid, especially when you need it.I'm sure other factors like the pros/cons of depreciation, pros/cons of inflation, etc. play a big role, but I'm not thinking that deep… yet.

While it depends on the lender, as well as other factors like the buyer's down, etc, they may let you slide on the ratios.

Have you factored in vacancies and who is going to manage it?

When I analyze the target market to determine the rent or loan payment, I always factor in this consideration; if you do not make it possible for the tenant/borrower to enjoy life by having enough money for an occasional family night out on the town or a backyard BBQ with friends, they will turn into a landlord hater and take it out on your property.Happy tenants/borrowers are great payers and take better care of the property.This has been my experience.

(when I say "hit" it means the rate goes up, sorry for the jargon) An LO would have to factor this into their loan pricing for it to be accurate.