It will have a upstairs laundry room that I believe adds a great touch and people don't come to expect that in a lower end priced home.

If when you buy a property you look at an ARV that's lower than most of the active listings, it's almost impossible to lose, as you'll sell your property quick and for the money, you hoped for or more.

Hey all, brand spanking new to this forum and looking for guidance for a situation I haven't noticed being covered. Apologies in advance if there's too much detail!So I really want to set myself up to get I to REI as ...

It allows you to significantly lower the amount of your down payment.

@Arturo Perez Honestly, for a learning investor, I would recommend that you stay away from lower-tier rentals and Section 8.

I'm am doing a straight up refinance to get out of the HML and into a lower %.HML amount to payoff $56,500.00.Getting appraisal Friday, but hoping for minimum of $125,000.00, being conservative and hoping for better (my real estate agent thinks $135,000.00 but I think that's being ambitious.)I don't think I will really know the LTV till the appraisal is done but assuming the appraisal is $125,000.00 I should have 45% equity into the property, as there will be no cash out, and the new loan will simply cover the HML loan at $56,500.00, plus closing costs $1350. 

I also try to get the tax assessment map or zoning map, and use it to mark where rentals are higher, and lower; not all counties will have it up online.   

It might be lower than 10%.  

(Or, refi into lower interest rate / longer term loans). 

Considering you plan to put 0$ down, in a competitive market you may have it come back lower, especially on a multi-family property.