There is no "secret" to finding them--- you just have to search, but most major metros have them.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Jay, I am not sure what the market really looks like for builders in Midland-Odessa but it is crazy that there is not more activity in multi-family in that area. 

I’ve been active in the Indy investment community for over 20 years.  

However, for major issues, STR insurance ensures you're fully covered.

Auction.com for some 66% or so of the preforeclosures in your area, other trustee's run other auctions, but auction.com has sucked up the majority of the business nationwide.   

Note that active income isn't the same thing as non-passive income, it's lower bar that just requires that it's a business activity that isn't just entirely passive. 

but the ones in OK neighborhoods need MAJOR, major rehabs to be safe and high quality - think another 50-100K on top of the purchase. 

Former Marine that started investing while he was still on active duty.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, immediate cashflow and at the lower end of relative rent & value appreciation.