I'm avoiding deals provided through platforms like FundRise, RealtyMogul, CrowdStreet, etc since often times those deals are the worst in terms of performance. 

So I'm in for over $70k, which means I'm completely underwater in terms of what the property is worth (which, you guessed it, is currently around what I originally paid. ugh.).

What I find helpful is pre-underwriting the file upfront in terms of reviewing credit, income and sources of funds needed for down payment / closing and reserves on a TBD property.  

What is the current situation in terms of operations (occupancy, delinquency, evictions, etc...) and why is it like that?

So, instead of thinking in terms of "standard fee," think in terms of actually time and costs. 

Properties here are significantly more affordable than in Ohio, Indiana, or Michigan, and the state boasts the second-lowest average property tax rate in the country.Alabama is also pretty diverse in terms of market opportunities, so there’s likely at least a city or two you’ll find attractive as an investor.

That's not reality, so everything has to be averaged out in some fashion.The challenge is owners like to think in terms of the minimal time it takes to do things ASSuming everything goes well.

It can take a little digging but they are not that hard to find especially when you have a solid network of other investors, wholesalers and good investor friendly agents.Location is going to play into all the things you have to worry about in terms of rents, sale prices, crime, STR/LTR.Do you have a specific zipcode or area you are thinking?

And to that point - any of the other 4 or 5  people actively doing build to rents that are on BP - what are you seeing in terms of rate and fees on build loans? 

Honestly, I think Brandon Mulrenin and Ricky Carruth are the best in terms of being realistic with their viewers.