This leaves a margin to cover holding costs, financing expenses, and still achieve a desirable profit.Here's the formula:Max Purchase Price = (ARV x 0.7) - Estimated Renovation CostsKeep in mind that this is a guideline and not a strict rule.

____________Located in a desirable state and town.

Frankly, even local: the last 3 properties I bought were all in close to move-in-ready condition, because currently, I can't get enough discount on a property in a desirable area to pay for the necessary repairs and upgrades.The radical solution: move to Cincinnati, even the playing field and become a local investor.

In Cleveland they cash flow well and you can build a foundation of knowledge this way and a base you can expand upon in the future if desired. 

I'd fight like hell to get a 2-4 unit in a very desirable north side neighborhood and hold on to that place forever.

This is a great opportunity for a builder to subdivide the lots adjacently along the road and build their desired amount of homes.

Value-add opportunities in the form of Class D, C and B properties is one of the most desirable and heavily marketed asset classes in the country, and few people talk about this (which I felt the need to post this).I have brokered several small multifamily properties in the Southeast.

A 20 month lease could be desirable for them.Having a lease expire in the spring or summer comes with pros and cons.

Not only are Queens and Brooklyn the busiest Counties in terms of activity (new listings), but they also have some of the most competitive investors in our market.Properties are selling for 8.5% more than they were in 2023, showing us just how desirable the borough is.With its proximity to NYC, numerous public transportation options, and overall vibe and attraction, it is no wonder why the popularity has been reflected in the buy-and-hold rental market.

As far as the other property, my ultimate desire is to build a duplex for rent.