I agree that vacancy is harder to estimate, and talking to local PM or two like @Nathan G. suggested can give you a solid bird's eye view of the market.  

Pick a solid B-Class suburban area.

If you work your way through those scenarios and numbers on your personal go/no-go list, then you'll be solid.

It's a solid "maybe", depending on your goals.Nothing about it is terrible, but nothing about it is great either. 

Overall, the real estate market is backed by solid numbers and not hype.

Sounds like you have a solid vision/plan in place.

The church did say that they have no interest in the house and will doze all structures on the property, the house is in “roughish” shape but structurally solid. 7k for new windows, 3k to repair Sheetrock, minor plumbing and electrical.

@Hayden SmithHard money is usually the best way to go if you have a property with good numbers and solid appreciation - as those lenders will be much more focused on the value of the property itself rather than your personal finances.But don't be afraid to step outside of your market.

It's a solid market that holds value and rent rates through downturns. 

I look forward to connecting with you all and building a solid network.