Keep on looking and running the numbers, inventory is very tight in Stevens Point, and finding cash flowing investment property is a real challenge here.

Once I read through this book I plan on looking seriously out of state.

I definitely plan on looking for properties that were built as multi-family from the get-go in the future as I scale up to hopefully avoid this caveat.

So, on looking back, I find that the CPA who did our taxes in 2009 did take some depr for that yr.

I don't know your budget, but why not focus on looking at the smaller properties here?

Thanks for the tip on looking at the expensive market blogs, I'll definitely do that.

Based on looking at the properties in your area are you able to determine the market value of the properties you've looked at?

I had a feeling good multifamilies are hard to come by in Richmond but I guess there is even more demand for them than I thought.Any advice on looking for multi's in the Greater Richmond Area?

No, that's about and 8 month reset...the reset didn't start to take place until the City changed it's leaders/politics...which was about 8 months ago.I'm really big on looking at the numbers for direction, but the numbers don't know what they don't know, and these numbers you provided describe a trend that was happening at the time/dates of the those numbers.  

I definitely plan on looking to get a few contractors to look at it and give me some numbers.