@Mike Moore - In the last three years RE values in the Raleigh area have skyrocketed, but rents have lagged. That leaves us with a situation where price is not supported by rents. This year home values have started to level off while rents are still increasing by double digits. Even though rents are trying to play catch up, finding cashflow is still difficult.
If you are willing to explore markets in a commuting distance to Raleigh/Durham, then it is a little easier (still not easy) to find things with positive cashflow, especially if you are self managing your rentals.
One thing we have been watching are national home builders, trying to liquidate some of their inventory as presales, and in doing so, they are creating a few opportunities. Again, nothing that hits a 1% rule, but I have seen a few things that have the potential to pencil.
If you are looking primarily for cashflow and are not driven by appreciation potential/asset liquidity, then you can still find some mobile homes in commuting distance to Raleigh that get close to 1%.
If you are in a position to buy for cash and have the bandwidth to do some project management (from your post it does not sound like you have the time), courthouse activity is starting to pick up and could lead to a few opportunities.
Best of luck on your learning and investing Journey! If there is anything I can do to help, I would be happy to jump on a call, just give me a shout.
