I am based out of Newburyport and live in Merrimac and don't have enough good things to say about the area.  

The numbers look good and based on them we are looking at positive after-debt cash flow of $289/month.Simultaneously we are looking at another property where we would be spending $7000 less in rehab costs but will cash flow for $230/month.  

Everyone is different in this situation based on what they have going on in their life.The vacancies on a single family are hard because it will drop your income to 0 for the period it sits.

If you have been at it long enough to have all the returns and financials the bank needs, but still have no luck securing the funds, Hard, Private or Asset Based loans are going to be your best bet.  

I am based in California but investing out-of-state right now.I need advice on a great property I just got under contract in Avondale community of Chicago. 

Although my company is based in CA and IL, we are both buyers and private lenders on lower $ ARV SFR properties throughout the U.S.Best of luck and continued success.

Below is a breakdown of the current financialsGross Rent (me living there - 3 of 4 rented): $4,750Gross Rent (without me living there): $6,600Purchase Price: $372KRehab: $144KTotal (Purchase + Rehab): $516KAround 1 year later, I decided to refinance the property based on the new appraised value, and remove the PMI (1.1% - roughly $500/month).I am now on the search for a another property at the beach (single or multifamily), or other well located areas of Jacksonville, that have value add opportunities.  

This would have been based on purchase price

Hey Kevin, the reason I ask is not to just plug your numbers in, but rather what I would pay would be based on what the cap rate is in your area.

Given the "range", perhaps make your decision based on the percentage increase in gettable rent vs the percentage extra it's costing ie.