@Genny LiThanks Genny, I will go to Home Depot to check out these products, do you think it's a simple DIY project or should I take the help of a professional?

In the long run you wont really be thinking of the few hundred lost here or there, you're building equity and can refi into a conventional product soon enough!

Haven't gotten final figures from our electrician in the cost but I have always been interested in off the grid type products.

All the markets below will offer you essentially the same type of product and returns.Cincinnati, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiIt's about WHAT and HOW you buy in an area.

Investor loans through Fannie Mae had skyrocketed since May when they decided to cap lender's investment percentage of loans produced.  4.1125% and 1.5 or so in points is not out of the realm of possibility. 

My initial goal is to have rentals that produce a combined $1500-$2000/month in cash flow after expenses.

@Josh Garner,If you do a 1031 there will be no difference other than the amount of gain and depreciation recapture you are deferring.The real question is whether it's better to hold the property for a full year to strengthen your argument that your intent was to hold for productive use and not to just fix n flip.There is no statutory holding period. 

This is a great forum with very knowledgeable members that will help to guide you in the right direction.I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alertsThere are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

If you lend in Texas could you send me some information on your products?

Population density and low-income do not produce good results.Anway, I hope it works.