There's a lot of suckers who attend these sales, particularly for the lower priced properties and that's precisely who you don't want to be bidding against.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I tried calculating value based on NOI and cap rate (see below) but I'm new to this and the value seems to come out lower than I would expect.

Findlay is a real oppotunity beause you’ve got a combination of stable job sources, a decent population size, and often lower acquisition costs compared to bigger metros.About choosing an agent..

I have found I can lower this number if I rehabbed the property myself before I rent it vs buying a tenant occupied property.

Quote from @Dan Lucchesi: Quote from @John Underwood: Lower price and advertise in more placed.I even get an occasional booking from a perpetual free Craig's List ad. 

For further context, we are trying to have him be the name on the loan because he would be able to utilize his first time home buyer loan to take advantage of the lowered offered interest rate.

I know they have a cap at 10.We have also looked at using local banks in the area but those terms are usually 3 years arms to ten year arms and 20 year loans so it lowers cash flow significantly. 

When you bring in intentionally say 20 million illegal immigrants you lower the wages on lower income people both by their wages and increasing their cost of living thru more competition for resources.  

Hopefully it'll be lower, but that where's my urban developers in a few other markets are seeing their numbers come in.