.$300K is the new $200K. 

we ran into this in FLA  a few years back when I had 4 starts and I exited that market.. permits  sub base all pretty tough for someone who is not there and already knows the systems hands down and has a devoted loyal sub base.. thats the key in my mind.

Hey Stepan, Some changes I'm advising and seeing my clients implement are expecting an extra 3 months of holding time and undervaluing the ARV just a bit due to high inventory on the market. 

They don't care about the 20 year old HVAC unit or a 10 year old roof.

Please give us a bit more info @Ryan S.

Between the time associated with making the investment, tied up capital and associated stress involved, even if the investment breaks even or produces a small gain most would look back and wish the money sat in their account until a better opportunity presented itself.

I figured the PM would definitely be local to the area of the property and would need different PM's for each area, those were just the areas I'd like to invest in. 

@Jonathan SmallI agree with the previous posts.

There are several myths that we have to debunk before someone truly believes they can do it.You need millions of dollars to do a dealThat it’s too complicated to figure outThat permitting takes yearsIn those communities developments cost way less (think a couple hundred thousand along with a loan from a regional bank), permitting is not difficult (much less red tape), and the towns are small enough that both the city staff and the local architects and engineers and contractors all work with you to help you navigate the process since you’re all invested in making your community better.Note: The big boys can play in the primary & secondary markets.

The biggest reason I would advocate for mixed use is for the reasons you mentioned, the leases are longer, but also the general "issues" around tenants on the residential side don't come into play as much or at all.