Currently, the rental income would not cover the mortgage payments, but I'm considering refinancing if interest rates decrease (possibly conventional to free up VA entitlement) as well as adding a fifth bedroom to increase rental income.My Plans: I intend to retain the NC property due to a stable tenant with a recently renewed year-long lease.

Are you looking to finance the rehab as well or just finance the purchase?

Ive had similar issue with google voice as well. 

@Cindy Young, the common rule of thumb is 1%, you will hear that all over the place, and you will also hear people rail against this rule of thumb as well.

Ran into some unexpected issues with having to run new power for the stove as well as having to run new water lines for the bathroom and kitchen.

To keep things running well, think about getting a local company to manage the property, make local friends in the business, keep up with market changes, have a backup plan, make sure you have enough insurance, follow the local rules for renting out property, and keep some money aside for surprises.

Of course the adage is "if the numbers work" but what areas inside 1604 do you think with will grow the fastest or be the best to consider for flipping for homes under 400k ARV Hey Nathan, I personally like the top half of the map. north 281 will grow faster than the other sides imo as well.   

HOA's rarely fund their reserve accounts 100% so as a matter of practice any overage in the operating account would be well used to fund reserves as to not have higher dues for reserves the following year.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

For cash flow in the area STR's are a great strategy that my business partner and I have found to cash flow well.