However, smaller properties tend to have asking prices influenced by factors like local demand or future appreciation potential, not just rental income.If you're finding that the numbers from the cap rate approach are consistently coming up lower than the asking price, it may be because the market value is being driven by different factors, especially in a competitive or appreciating area.I’d recommend using comparable sales as your primary tool while keeping the income approach in the back of your mind to avoid overpaying.

The key is to stay consistent and keep learning.

The core 4 consists of a realtor, contractor, property manager, and a lender.

Have you thought about how long-term rental loans can help you achieve consistent cash flow and build wealth over time?

I would not add much, a simple bedroom, bathroom, kitchen, and hvac.Another aspect of this deal is that the building is listed as a historic building and thus could qualify for some grants. 

The CORE 4 consists of having a great realtor, contractor, property manager, and attorney.

You've got to bring your A-game in all aspects.

Positions like these can provide valuable exposure to different aspects of real estate while helping you network with other professionals.

With the exception of finding the tenants (I use an agent) I manage all maintenance aspects of the property but am coming to a point where I might want to move on and considering doing a 1031 exchange to of course avoid Cap Gains and invest in another property closer to my primary residence.

I’ve heard of their full recourse scenarios consisting of personal assets and even garnishing wages(I suppose it’s contract dependent and how sharky they’d guys get).