Everybody here remembers how it was the foreclosure capital of the nation back during the recession, and the city has made numerous negative headlines since then because of bad leadership.

I've ran into this NUMEROUS times. 

My Rio Rancho rentals are getting picked up in a heartbeat due to intels numerous new employees and contractors.In short - its a simple supply/demand imbalance. 

I want to invest in an up-and-coming market that's a little more affordable than Hawaii, and Tennessee has come up in numerous conversations I've had with family, friends, and investors.

I am doing so for numerous reasons, but for what pertains to your situation, the house I am moving into has an unfinished basement.

Hey Mark - I think there are numerous markets to look into around the country, I would start by looking into ones that are an day drive or less from you and expand out from there. 

Within the 1031 there are numerous replacement options that can be used for estate planning.  

This could be for one of numerous reasons: lot size is too small, or the zoning has changed altogether, or it doesn't conform to the construction requirements for such use (think the large house with a single front door, but multiple "apartments" inside.

Hell, this should be with a property management company but the margins are so slim that I'm having to self-manage.I don't think I'm going to be able to find numerous tenants at this price point, so if I needed to budge a little and be flexible with this deposit, I'm okay doing it.

I don't want to dash your hopes completely because it has happened, but you'll have to build a really solid case that your deal is a good one, that you can manage the project, and that you have numerous exit strategies in in place in the event that plans A and B don't work.There's also not really such a thing as "Pre-Approval" in hard money lending because the deal is more contingent on the asset, and not so much the individual.