With that said, you have to be close to the lake or pools/clubhouse or in a golf cart type community. 

Or do you have any general tips on what to look for in a restoration company?

Lots of helpful tips that will help me move forward in my initial stages of investment.

@Drew Sygit: Thanks for the tip.

Look online to see if any properties are being offered for sale or rent with a legal basement unit and you may get a tip off.

For a lender that may have to foreclose, its additional risk because the buyer pool for a nine-bedroom property in a residential area is very small

Thank you for any input. 55+ will limit your pool and $75/mo cash flow is not a lot.

They also have ammenties you might not like: pools, gyms, WFH areas, etc.Then you have areas like temple that area not renting well because of the surrounding location of university and lower demand for students to live there. 

Hey everyone! 
I am new to real estate and I would love to hear your favorite strategies for finding distressed properties. Do you mainly rely on driving for dollars, online platforms, or networking with other invest...

: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.