Comp for a new house is probably $400-$450, depending on quality of course.Right now, there's about 100 brand new 3 level SFH development going on right in its back yard, ranging from 1700-2100 sqft. 

Ideally its always better to invest in your backyard but depending on where you live barrier to entry might be high..

There is a very large pool of renters and the price to rent ratio is solid.

I like the exit pool and I like owning houses.

New landscaping to back yard.

If so, how do you anticipate managing properties out side of your back yard?

Purchase price: $340,000 Cash invested: $40,000SUMMERLIN SOUTH SINGLE STORY 4 BDRM WITH A BEAUTIFUL WATERFALL/POOL.

Different lenders have different requirements however the pool of lenders get larger when your loan amount is over 75k and you have held the property for 6 months to a year. but you can absolutely refi a property in less time and for a smaller loan amount.

Like @Charlie Hampton mentioned number of bedrooms matter, if there is a grinder pump, how old the system is, is it actually a cess pool, etc. 

We BRRRR right here in our backyard, in the Boise, Idaho area.