Although people do operate the STR's illegally within the city limits, the city has been recently discussing the best ways to enforce their current guidelines against those, as noted in many recent city council meetings.

They had a guideline where they wouldn't fund an investment property that has been flipped / sold within the last 12 months to the seller.

Also, you can't go wrong with a neutral palette, it's the safest bet.

The confusion is that EVERY lender is NOT created equal and has different guidelines. 

Your best bet would be to offer them cash for keys to move out.

I bet the gurus arestill taking tickets in your town anyway.

In those situations I had enough Capital to do that had to be done to get out but, no where near where I thought I would be.If you can finish the project and take a loss that is your best bet.

I bet!

I'll stick my neck out there and would bet that within 12 months the tier 1 markets may be primed for a rude awakening.The Midwest (employment hubs like Omaha, Kansas City, Minneapolis) and most of the deep South and Gulf Coast seem to have good numbers still.

@Hector MejiaThe system for buying out of state rental property varies from one investor to the next, so there’s no one-size-fits-all formula to follow.However, while even though goals and investment strategies are different, there are some general guidelines to consider before investing in rentals that are out of your home state:Look for markets with vibrant economies, strong population and job growth, and low unemployment ratesUse the free rental property analyzer in this article to forecast the potential return of a property.