Do the math again (make sure to shop around for a bank with lower fees) and see if there is a solution to increases the value of it in a short time, so you can refinance it later after get a new appraisal after  rehabe....No deal is batter than a bad deal which will stress you out and not worthy of the time and $.  

@Terre Oswald in your search you don't have to stay in your backyard.  1031 is a federal statute that all 50 states recognize at the federal level. 

This may work in your market or it may need to be slightly higher or lower.   

It's lower risk and you will learn a lot more.

Setting up multiple LLCs can provide you with more protection, simply by adding additional layers that make it harder for someone to get to you, if they sue you.However, it is probably totally unnecessary and, in my opinion, borderline unethical, for an attorney to try and sell you that level of protection when all you are doing is buying a rental property.

Extended vacancies, higher turnover, lower quality tenant pool, etc. 

Your VA loan will allow you to finance the entire purchase of the property with no money down, and will get you a lower rate than if you went with another loan product.

I was speaking with a multi-billion $ institutional investor's COO several weeks ago and they said when they went to Wall Street to raise money, every banker wanted to know how much of their portfolio was based in Atlanta...meaning, Wall Street knows that Atlanta is a very stable and quality location to own in and while return may be lower than other higher risk areas, it is a quality area and top of the bell curve in most return and risk respects. 

Lower Queen Anne is more artsy, new wave types.

The second is that we are a long way off an automated model actually doing the same job as a high level LO.