Thank you, this discussion thread has helped me think about the loans in a slightly different way and weigh my options better. 

Hi, I am from Georgia, with everything goes up here, feel like Alabama could offer a better or cheaper place to invest, so I am thinking about investing in Alabama, not inside of Birmingham, but between Atlanta and Birmingham or between Birmingham and Huntsville.  

It will rent for about $500 plus electricity that way which is a much better return on my investment.

A couple of things I've noticed is people are "staying put" for lack of better wording.

However, your interest rate will likely be better.

Look at unfurnished, maybe you do better if use that option. 

Anyway, if you're interested in arbitrage, you'll find better info on these sites from reputable people... 

Some are easier inspections than others but some turn into larger projects (this can be prevented with better screening in leasing but we inherit bad tenants or poorly ran previous property manager problems often). 

should i skip in the hopes of finding something better than will always cash flow nicely?

It is probably better to ask an experienced investor to read over the contract to gain their thoughts.