You'll be looking at a higher FMR that will reduce your credits allowed for financing purposes based to some extent on the repairs you made.As to refinancing, the hard costs of your improvements will be considered as an equity achieved.

I understand looking at schools and crime rates and to avoid war zones but is there anything else that should be considered?

HOw am I reducing that when the exchange is complete?

Mortgage fraud is a serious crime, and one punished by significant penalties.

Also increases the chances of a federal entity having to finance a loan.4) Local Taxpayers- House keeps it value therefore surrounding property taxes aren't reduced due to a foreclosure.

Even think about rentals on some for building monthly cashflow.To me, the benefit of real estate with a full time job and cashflow from rentals, it helps reduce your AGI and overall propel you towards even more cash.Also, look to join a real estate investors group/club in your area and learn more on this website as I read about others on here going from 0 experience to 100% full time REI than I could have ever imagined.

In between, that $25K limit is reduced by $1 for each $2 of AGI over $100K.

Here are a few of mine in order of priority:Price-to-rent Ratio - 1% + ($1,000 rent for a $100,000 house or better)Crime/Safety - no violent crimeSchools - high rated schoolsAppreciation Rates - San Antonio is a relatively low appreciation area, but I am trying to find the best I can.What are some of yours?

Same in terms of negative affects.Time is the most effect metric in reducing the affects of negative trade lines.

Second I assume you are looking for single family houses for long term rentals to hold and not rehabs or commercial properties.If that's the case you need to be very careful investing from afar in single family houses as the dynamics are different.Do not be sold on a property where they say it's CLOSE to this great area etc.Instead look at population growth, quality of schools, the economic planning department, permits pulled for building, whether the state is business friendly and whether it is a pro-tenant or pro-landlord state, median income levels, job growth, and crime levels ( violent versus non-violent offenses ) etc.Many more metrics to look at but this will get you started.