A lot of large metros don't allow bandit signs and have stiff penalties.

I'd be thrilled to own any of these homes if I had to take them back.Visio Financial Services (Econohomes) offers a loan product at a similar rate of interest for a 5 year term, with stiff fees and lower LTV.

You can eliminate some of the variability by going into the B to B- neighborhoods but then you start running up against some stiff competition from local turnkey guys and hedge fund types.

Also make sure he did not fill the place with a bunch of deadbeats just to get the numbers looking good who will stiff you on the rent or with relatives on sweetheart below market long term leases.You should also consult with a commercial broker that has listings in the area of similar properties to find out what the cap rate is.

A few of the locksets are still somewhat stiff opening but that's on the doors that i don't think get used as much so I believe they are still wearing in a bit. 

The penalties are really stiff.

And there are no taxes.If you sell the note on an owner financed note, you're going to take pretty stiff discount on the face value of the note.A 1031 would make sense for that property you've paid off and held for a long time, as long as you're willing to put the money back into another rental. 1031's have to be like for like, so you can't take the money out for other purposes.

If it's as good as you suggest, you'll likely face stiff competition.

Stiff opposition from neighbors and they cut us backto 18 lots.. seller would not budge on price we walked.. lost 85k on that one deal.. :)  so it happens.. just move on.

Higher quality stiff with national tenants gets developed for 9 plus caps break even so they do not sell for that more in the 6's.Key with these small mom and pop tenants is if they pay at,under, or above market rents?