I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?

I already have land holdings near Everett that will certify out at 304 salable density bonus credits.To play this game, I get certified and then "clip off" the transferable development rights for sale to urban developers in the county, who can cash them in for an increase in dwelling unit density from an original 22 units/acre to 58 units, and building heights from 45' to 75'.

If the agent you work with is not familiar make sure the lender is, so you have someone who can confidently navigate this path for you.

Prices have increased (higher terms/rates) as the fed rate has gone up so you have seen people who could get 8 or 9% now in double digits.

I'm a big fan of lakefront properties as vacation rentals, and the area these cabins are in is popular for tourists, so I felt confident in the deal.How did you find this deal and how did you negotiate it?

While it will likely give you more confidence and answer a lot of questions, I would say that talking to a seasoned investor, or even agent that works with investors, is a way better idea than spending 8K on something that you don't know too much about, especially before your first deal is done.

A coach makes sense if you are 23 and want to increase your skills enough to earn a living with the sport.

But now you are opening yourself up to a possible increase in your rate, as it is adjustable and can go up.

Apparently, because rates increased here so astronomically in the last 2 years, the insurance industry believes their numbers are correct with the risk.If you have the correct coverage @Marc Shin, you should be covered (although you should also have budgeted or baked-in costs for minor issues/damage).

So if prop 33 passes it will be possible to cap rent increases from one tenant to the next.A recipe for blight.