But the other 500,000 towns in the USA, I don't know.4. 

Townhomes do not need to be FHA approved like Condo's and generally have less restrictions.Buying out of town is also not an issue especially with it being a better reason to take advantage of a second home loan which would only be 10% down. 

I had a hard time finding a duplex, triplex etc in a good part of town.

I went there to meet the team.. with no real concept of the safety and life issues of a lot of these larger towns.. 

The South has a ton of options to start investing, but you don't know the towns.

I would examine those markets to see if the deals would work with what you want to spend because then you have boots on the ground and/or a competitive advantage in that area instead of choosing a town you don't know and building a whole time that are only verified online.

Be the lowest price in town.2. 

My third brother is willing to live in one of the units for a while since it is located in his town and close to work but our issue is the down.

First post and hopefully this site will steer us to a path of successful real estate investors.A quick few facts about this house: a large house (4+bedrooms/1.5 baths with central air: a perk in this section of neighborhood) located in a small low-middle income town outside a large city in the Northeast that is projected to provide a +cash flow for years to come. 

If the town came out to the property prior to you closing on it and granted a certificate of occupancy for transfer (if you have that there), you may be able to argue that it is now grandfathered in.