Well for about 18 months that's what you had in the non owner occ world of RE not to mention Owner OCC we all lived through the credit crunch and it killed values.... 

Just a simple way to get an idea when crunching numbers!

I did 1-hour turns on units that were vacating last time, but it was a lot of hassle, and would have preferred to just pay for the vacant days, and have a little less crunch time in the turnover..

http://www.garytharp.com/forms/  If you have an iPhone, you could use TheAnalyst app, which is built on the same foundation ... it's my favorite number crunching app ;-)  http://cretm.com/theanalyst/I have no affliction with Gary (other then I'm a ccim candidate) nor the App...I just think it's cool. 

I understand how to crunch numbers but with 300 plus doors in a C+ grade neighbourhood what is reasonable vacancy rates?

After some number crunching I countered the bank.My initial offer 100K.Bank countered 126K.I now countered 108K.I don't think this is going anywhere.

Crunching the numbers I can realize strong positive cash flow and a 16% ROI.I am retired Army and have great success keeping my properties in this area rented to both military and civilians.

I am crunching numbers using zillow right now.

Of course you'll need to crunch your numbers to make sure this works with your financial sitatuation/plans, but maybe you can:Get the 3.5% Down Payment FHA loanUse the free capital to make your renovationsBuild up a cash reserve after increased rents/increased appraisal valueApply rents to your loan (making accelerated payments) to get to 80% LTV as quickly as possible You might also consider (if the numbers work for you) refinancing after your renovations, at which point your Property Value will be higher.

That's what I have and always pay a bunch of principal but it's nice to know I am not required to in the event I ran into a money crunch.