It's much easier to find good rental homes in major cities where you can find decent homes for ~$80-$100k that follow the 1% rule for rent and can cashflow.

Those of us that have been successful often try to be incouraging and supportive without considering we may be imparting false hope.Take the time you would put into growing from nothing and concentrate working 2-3 jobs saving every penny by living a frugal life style.

To my knowledge, the changes did nothing to allow private lenders to loan on owner-occupied residential properties and the rules for covered mortgages are still in force. 

Work appears professional, getting good deal and hitting my rental numbers, slightly over 1% rule for rent, good blue collar working neighborhood, solid C area.

I'm likely going to mention that if it's a Dunkin' Donuts than I support it, but if fast food depreciates the value of your property I will be against it. 

That is the “When ‘1% isn’t 1%’ Rule”

Expect some negative cash flow at first, but once you get your own tenants in there you'll be in much better shape.I would also lay down the rules and expectations on the existing tenants from jump, and when their current leases expire, have them sign a lease of your own, with these rules and expectations reiterated.Good luck!

@Victoria S.When fully rented out does the property meet at least the one percent rule?   

This was somewhat supported by FL statutes at the time. 

As long as the banks will continue to lend us to build our fourplexes we are forging ahead..we live in a stable area in Texas, we have 2FT employees, I still work FT as a nurse.. 10X rule;)