Dig a little deeper into her rental and financial history and I'll bet something shows up.I'm not saying that a review of their application and maybe even a deeper inquiry into their rental/credit/criminal history will definitely reveal something that should have been caught. 

Many buyers in Ohio shy away from homes with structural issues so if you're willing to take on the project you can find deeper deals. there is always more risk and fear investing out of state but sometimes you need to take a chance.

A lower number of active rentals or lower vacancy rates may also correspond with increased levels of neighborhood stability and income.

That gives you the time to take a deeper look at all aspects of the property and line up your financing.I would be doing my sellers a dis-service if I turned people away without at least letting them look at the financial information.

There are different levels of what is acceptable in commercial lending, it's not the Wild West where the fastest gun rules. :)  

How are your current consumer debt levels?

I try to match my strategy to my desired level of participation.  

Decima (best selling author/seminar guy) who fixes them up, often to rent out, but also to eventually sell or even tap the equity (but beware how this would add costs, interest, and only can get a loan up to certain level of equity). 

From my estimates, I see that there is $75K needed to get the property to the $245 - $250K level.

Non-bank mortgage servicers have acquired massive portfolios of mortgage servicing rights, many of which consist of delinquent loans that require a heightened level of service and support.