For notes every investor has a different strategy and even calculates returns differently (IRR, vs ROI vs CoC).

Freck if ANYTHING is 2%  efficient, that whatever it is, IS NOT WORKING.So why would you spent 3K 6K 16K to send a campaign out with a 2% return?

Bank of America, who holds my loan, said that’s due to tax returns they’re worried about my ability to pay.

If you focus on less expensive properties with lower rents (ie Independence) you will have great returns but more headaches with the tenants and turnover.

If it’s a market issue, it’s worth less to you than if it’s something you can easily get filled once you own.

Definitely talk to some of us "locals" though about the area the house is in and the returns you *should* be getting. 2% and 3% rule deals are possible in Little Rock, so don't settle for 1% if you're in a neighborhood where you should be getting 2%. 

If you can swing it, owner occupying a FHA 4-unit will get you the best cash on cash return since you will have very little money invested in the property.

If you do a 1031 exchange and purchase at least as much as you sell and use all of the proceeds in the purchase of replacement investment property you will declare non-recognition of any gain including depreciation recapture on your form 8824 filed with your next return.

Some people argue having your license is an advantage to have MLS access, being able to see retail properties easily w/o an agent. 

@Zach Becker The main thing is whether or not your CPA can file Indiana state tax returns for you.