this is the distinct different between being an actual lender like a bank .. and an investor in a fund.. two very separate transactions.. when you lend and receive collateral on the asset you get paid when it pays off or the borrower refinances etc. 

Not too concerned with rent/price ratio on single family homes since none of them are really going to cash flow a ton anyhow unless they are paid off. 

I had watched it drop $15k just in a 30 day period brining it back down to the price they had paid in 2023 before their rehab.

Chicago has no east west train line that it really needs, It’s already too expensive for anyone to invest, but not expensive enough to really build out.  

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

There thinking goes something like this - I can buy this great property for $5 million cash flowing $600k per year (they neglect expenses).  

They failed to rent a unit in a great location/condition and a hot market for 4 months, and the rehab expense reports don't line up with the estimates they provided.

We just paid $500 for a 2,600 sqft house that was fairly clean.

I bought it last year and thus far have: 1) Appealed assessed value to bring down taxes, 2) Got better (less expensive) insurance, 2) Rehabbed 3/4 units, and 3) increased rents $300-$400 per unit along the way.

Interest always paid on time, and principal was returned with bonus right on schedule.