We ended up contacting a property manager to get some more accurate numbers (sell price vs. rent) and we ended up deciding to rent it out when we move.

If the owner does not want to keep the note what is the market for a performing loan and where can it be sold.

The key to success on these deals it o accurately estimate your rehab budget and the time it will take to get the rehab done.

They do background checks and track the performance of sponsors so you can invest confidently.

I recommend taking a good look at each of the units and compare their condition/amenities to comps close by to get an accurate rental rate.For example: I purchased two 4-plex properties in N.

Abe,While the information about Flood Insurance rate increases is accurate, it is only referring to the National Flood Insurance Program (NFIP) from FEMA. 

Should I find out what current owner pays or call my insurance company — would they be able to give accurate quote without knowing all details?

As alluded to above Winston-Salem and Greensboro are somewhat local metros to you that have performed well and look poised to continue as the southeast continues to experience; population growth, job growth, rent growth and job diversification.

@Philip Joseph, thanks for confirming that my instinctive reservations about Macon are mostly accurate.

A PM should cost around 10% of gross max, not 50% or worse.If your doing repairs yourself then your not living your best life anyway.Start interviewing PM's and turning over a few properties to start with.You could also use multiple PM's and get rid of the lower performing ones over time.