Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase. 

There have definitely been some upgrades in the park itself and there were some new restaurants/hotels and they did try to make the streets nicer. 

I'm looking to gain momentum and scale fairly quickly.I'm going to try rentredi and quicken to manage the numbers.

Been trying to get a few quotes since my plans are submitted and waiting.

You don't have to answer that, nor can you because it's subjective, but the point I'm trying to make is that they may not view it as a great deal as it currently exists.

Trying to figure out shortcuts will land you in the pokey.

I just bought it in the fall and am trying to complete a bunch of modifications during off-season (e.g. metal roof, certain safety features, treating the deck, possibly updating the fire pit area, etc). 

While they did try to get the lender to work with them, they don't want to replace the management company because they are part of the GP.

Give it a try, I hope it will work out well for you.

Try interviewing at least three managers.1.