Your $80k estimate could be legit but unless you had a contractor estimate, which we always bump up, or we personally walked the house to confirm, we use 15% of the ARV, or $94.5k in your case.

(busy, but not making our listings a priority)@Ronald Rohde I can personally (DFW) relate to this on a deep and meaningful level!

I don't know how the average person could afford this. 

I personally invest in the Ohio market, and my investments bring in good cash flow and appreciation.

He's in that area and actually started his journey house hacking in MA so could be a good person to talk to! 

This person and I have done a previous deal together but very different circumstances, so we have full trust in each other. 

Personally I'm not really worried about natural disaster type issues in DFW. 

You cannot make a good deal with a bad person.

We have to do a no docs loan as we don't have enough personal income to qualify otherwise. 

This is better than relying on insurance because it protects your personal assets from liability.