Usually a commercial loan is what would be needed here.The main reason it doesn't work with Conventional/VA financing is because they rely on "Sold Comparable Properties" or sometimes called "comps".  

i would search truila, zillow, fb marketplace and other websites that potential tenants find rental properties and compare the prices manually in your area.

From what I understand they do not have enough comparable sales in the surrounding area?

The cost of foreclosure is not cheap, but compared against a botched one it is cheap.

My numbers are modest - compared to others.

That said, we want to avoid tunnel vision, and want to put this out to the larger community to see what other locations you have had experiences in, and their pros/cons compared to a place like Cleveland.

They may, however, take longer to obtain financing (compared to Hard Money loans).What is the reason for looking at Hard Money... is it due to your credit score?

No one knows what the future will bring but if you look at the increase in housing prices for San Diego and compare that to the best case scenario cash flow for an out of state rental San Diego appreciation is going to come out on top by a long shot.

The main question you need to ask yourself-- is my house being compared to flips or ones that need renovation?   

I have a 13 rental homes and I am having difficulty figuring out how to compare my BRRRRs to other investments (like a CD return or Mutual fund return).