I can understand why the locals do it, but most landlords don't seek out the most tenant friendly states to invest in.

Kilz prime all walls and do ozone treatment before you start to replace any of the stuff you've ripped out..

Our lease allows us to sublease for one year minimums which we plan to do for about $2500/mth + utilities including escalation clause.In this cozy little neighborhood of upwardly mobile millennials looking for a fun place to live, work and play and the well healed Baby Boomers seeking a cute place to hang out, take long walks on the beach, bike the many miles of beautiful coastline, golf, fish or surf to your hearts content.  

In short, it's possible with a great financial situation but likely not for a 30 year fixed of that's what you are seeking.

@Mathew Weissman for your first property I would recommend just seeking a traditional FHA loan and not a 203(k) loan (if those are your only two options).  

BP fam,In need of a dynamic, successful property manager for a multi-family in Oakland, CA.  You're referrals are much appreciated.Ebony

Hi All, My works takes me to Spartanburg, SC from time to time and the areas industry and low operating costs/ taxes have peaked my interest. I don't see much in the way of MFR down that way however. Are most rentals ...

Also, once you figure that out, I believe you should seek out lenders.

Once they tell you what you're looking at as far as breed/possible treatment recommendations you can decide if you want to do what @Jeff B. said and take the first one and issue a warning to them about any further issues.

I have a buyer who is selling an office building and looking for a 1031 exchange. Minimum price is $2,500,000, preferably $5,000,000. Can anyone recommend appropriate where I can advertise this need?