And as we know negotiating deals can take many hours.. so the fee's out here would sky rocket into the multiple thousands then for the East coast guys how much time are they going to spend when they are making a flat fee. ?

I too have been looking hard here while watching prices sky rocket.

All prices have skyrocketed HOI wise. 

TIA for any advice, and glad to have found this forum.JPIt’s honestly pretty hard to say without comparing to actual units, in general I’d prefer something newer with less differed maintenance (less chance of skyrocketing hoa) plus honestly just being a nicer place to live in.

That should skyrocket to 30% cash on cash return for year 2.  

I built this one 7 new st.. which build cost was probably 40 to 50% higher for the sq ft because of what we had to buy to meet the BAR ( architectural review for those that are not familiar)  I also built about 20 in North Charleston a before it sky rocketed.. my building partner is now working hanihan. which is the next one to go. 

So even though property values may have skyrocketed, the taxing authorities aren't able to jump the taxes as much because of the limits the grandfathering puts in place.BUT... as soon as you buy a new home, or transfer it to a new entity (think LLC)... all that grandfathering goes away, and the taxing authority will bring  you up to that new Just Market Value".  

Really hunt for a deal- remember if a property is cash flowing changes are the seller wouldn't be selling unless there is a point of distress.Just throwing it out there- I live in the Stroudsburg PA area- here I have seen rental rates and property value absolutely skyrocket post covid due to the migration of people out of NYC- maybe look for areas like that that are more up and coming.

With the housing prices skyrocketing almost everywhere coupled with highest interest rates we haven't seen in decades, any area that has good rental potential is so hard to get good cash flow!

Took a little longer to close than expected which would have also hurt, considering the pace with which interest rates were sky-rocketing at the time.