It's better to pay $500 or so to an engineer than lose thousands just taking a chance, then again if it really rents for $1,200 a month, the numbers do work well. 

What's the safety like there and chance of appreciation?

I had the chance to attend one of the meet ups here and I was impressed with the range of people that came out. 

Then you need a contractor to give you a quote on repairs, not because you will fix it, but to find out if another investor has a chance at making a buck.Without even seeing it, I'm thinking RUN!

Hopefully things go smoothly, and I promise the more effort you put into clear and concise communication in the beginning, the less chance tenant will get upset as a result of unexpected outcomes (like starting an eviction process, if only because you have to protect yourself).Source - years working in real estate.

Potentially there's less of a chance that the property is vandalized.  3.

Any chance they would make an exception for conventional?

.😕 chances are...if you (or they) don't have the funds to pay the 1st off, you lose what you just bought when they foreclose.

Lots of opportunties $250k - $500k, as well.If an experienced realtor who genuinely specializes in buying/selling vacation rental properties tells you their market is comparable, chances are you've found a good market.

This is task that has a very, very, very low chance of success.