Where would I most likely attract room renters? 

Would you be willing to share more information with me regarding how you would structure an offer that would be attractive to the seller in this example, yet still retain enough potential for the buyer to make a reasonable profit?

@Tina Gao there are many areas in south Jersey that are yielding very attractive returns, with relatively low risk.

Dover is certainly in the path of progress as the Portsmouth market becomes even more expensive and continues to attract jobs etc.

But you are also happening to look at a city - Austin - which is one of the highest growth, most attractive places to live in the country.

The cap rate is less than I typically look for but the cashflow is pretty attractive.

Fixing it so it doesn't break at 3 AM" and "making it look attractive" compete for second and third. 

I’m curious about how you found a place with enough delta between ARV and total cash invested to make it attractive, as well as enough rental income above your refi cost.

I feel I would get better deals avoiding turnkey properties.I have done some research Orlando seems like an attractive investment location. 

That sounds like you are including the existing plans as part of the sale for the buyers use which is attractive to the right buyer.