Have you approached the current owner of the car washes to see how much they want in a sale?

Your approach here has definitely given me a lot to think about in terms of spotting hidden value.Curious, with the deferred maintenance challenges you faced, was there anything unexpected that came up during the rehab that you’d approach differently next time?

A friend of mine in Austin once negotiated a partial buy back option when the seller realized they might want back in if the market soared.. from what I read in Bloomberg, that approach can work well if both sides trust each other.If the tenants’ rent covers your carrying costs, that’s a nice cushion, but you still need to clarify that buy back clause.

I was approached by Avantstay and wondered if anyone in this forum has had experience with them from owner point of view. 

If you ever decide you want a more passive approach, there are turnkey companies out there that handle everything for you.

Live in an area for 2-3 years, self-manage the property, and then relocate again, passing the baton to a property manager.I’d love to hear advice on any of these markets for making this approach a success!

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Some high and lowlights:- I had one tenant that brought German cockroaches in and then blamed it on me- Same tenant asking if her daughter can visit but failed to mention it was 5 more very noisy people- another tenant having constant loud arguments with his gf- tenant saved some of my stuff when the house flooded due to a pipe burst and another time during a monster rain storm.

I brought my first note back in 2022 and my second in 2023.

Quote from @Dennis Bragg: @Stephanie MedinaYour question brought me back to a deal a client of mine did in Chicago a few years ago.