Certainly this is not the case for everyone but a cautionary tale nonetheless-especially being out of State.My CPA is referring this investor to me because he knows I like the Lansing, MI area where prices are similar but taxes are lower, labor cost lower, and lots of economic development because it is the State capital.To your success!

I see a lot of 2/3 family's in Springfield MA for good prices.

Purchase price: $650,000 Cash invested: $65,000 STR in Black Hawk CO

Look into market shifts, home prices, and how much rent goes for.

This is one of the reasons I would be very hesitant to allow an arbitrager access to my property.

There are some very, very good reasons why you might want to return it to the tenant ASAP. 

Given that purchase price is low it is hard to use the property as collateral.

If you’re totally against that for some reason. 

I am looking to vacate the house and prep for a 1031.I previously had the property listed, got under contract just for this tenant to be the reason we didnt make it through the inspection period.I have a good relationship with her but she is a mess, pays late every month (including her late fee, she is current), police visits, etc. 

Purchase price: $800,000 Cash invested: $80,000 Primary residence with an ADU What made you interested in investing in this type of deal?