Thanks in advance for your time.Bobby Short Hey Bobby, you should check out Second Street.

The unit is located in South Jersey, 15 min outside of Philadelphia in a nice, vibrant neighborhood, close to amenities and public transportation.

@Robert Quiroz I think all of the factors you have listed might contribute.So I’m not going to comment on that but I am going to comment on an assumption you made.If 85% of rents are below market on deals you underwrite then those contract rents are probably THE market rent.You can’t just go based upon area median income to rent ratio.First off urban areas are oftentimes street by street, block by block.

But the likelihood of success with that depends on the specific street.

Hello @Jeff Skinner,Welcome to the vibrant world of real estate investing!

No off-street parking = not worth doing MTR unless it meets all of the following: super urban area where no parking is the norm, highly desirable area with a ton of MTR demand, super safe part of the city, and has great public transportation (think NYC, Hoboken NJ, etc.)Unless it meets all of the criteria above, I pass on those opportunities because my MTR will be eliminating the many people that travel with their vehicles.

Years ago I spent many months working in Indianapolis and staying at the Canal Street apartments. 

If you go RBTR, here are a few key criteria I've seen to assure comfort of living and lower vacancy / turnover:- at least 400sqft per tenant and no more than 2 tenants to 1 full bath -excess parking where folks aren't blocking each other in and you're not getting complaints from your neighbors about overtaking the street parking.

Have the water department come out and they will check from the street to the house from leaks.  

First house in 2021 - no internet to search at that time, remember going to realtor offices and seeing magazines and talking on phone with them about properties available and driving by them as there was no google street view.