I wanted to connect with any folks with connections in the Prescott area!

The biggest challenge seems to be finding lenders that offer these loan products which is where I’m looking for help from the community with recommended lenders that serve Texas.The Fannie Mae (or Freddie Mac) options are preferred over FHA purely because of the (perhaps perceived) limit on renovation funds that the FHA option provides.

You look for comparable sales for other distressed properties that are similar and nearby and also counter that with finished version comps so you can see what your perceived spread could be.

Hey Amit,Section 8 is definitely appealing to a lot of out-of-state investors because of the perceived stability of government-backed rental payments.

The perceived value may be more, because you know an STR was run there and making money, but a lender wont value it more.While I agree a lender probably won’t value it more, an investor interested in running it as a STR will pay more.  

That's most likely going to be a C- neighborhood or lower so there could be more perceived scale to BRRRR, but a tougher decision on how to renovate at that price point and possibly harder tenancies.I would get to real estate investor meetups in your area.

This is why when folks say everything is millions of dollar in Ca they just have no clue..

Most home owners are only familiar with California Closets pricing and automatically perceive closet fit outs as being expensive.

Even when financial goals are met, the experience shapes how owners and tenants perceive the property.

Quote from @Marc Shin: @John Underwood my STR is in a neighborhood that could be perceived as a little bit sketchy..Erp.