Cheap properties can work well if sec 8 them and take care of accounting for the large cap/ex item costs.

@Nick M.It's a 1960s property that's only going to get older, and possibly need more cap ex.

My initial analysis suggests a conservative offer in the range of $3.2M to $3.35M could be justified, factoring in current market cap rates and the property's upside potential.I'd appreciate any insights on:1.

I have spent the past few months analyzing properties in Davenport, just from the MLS, and it seems like there are great cap rates which we are optimizing for.

What is the respective cap rate for each property?

They’ve already done all the hard work of finding good lenders (hopefully) so put on your networking cap and start making friends!

And seeing that it is a 1bedroom, I'm at the max rent cap currently.

What cap rate do you all look for when looking at duplex's or multi-plex's? 

Shingles = $1,120.  2 boxes of roof caps at $100.  4 rolls of #30 tar paper at $100.  

This route will be limited to original purchase price as value basis and will be capped at 75-80%.