You can speak to the lenders you are talking with about their debt to income etc. if you are getting conventional loan they will take that into consideration, if you go with a DSCR loan they look more at the metrics and financials of the property.

Hey, BP community I wanted to take some time to tell you a little about my thoughts on out-of-state investing as many investors stick to their local markets, but out-of-state real estate investing offers unique opportunities that could boost your portfolio.

If you have a lot of capital already, a solid income coming in elsewhere from real estate, and want to minimize your headaches / downtime to get a property, than I would say this strategy fits. 

I just bought a new property and I was wondering if I was going to rent this out, what repairs should I make in terms of the roof and should I add an addition?

If your property is in an S Corporation the "distribute" or "sell" or "fixing cost" of the property might impact your tax situation.

Is this common, or are we overpaying due to lack of competition?

You can expect to pay between 2% and 6% of your new loan amount in closing costs.

Welcome to BiggerPockets and best of luck investing Jeffery!

But see if you can take advantage of sec 179.

Are you thinking of investing in Lincoln, or are you open to other markets as well?