We reside about 20 minutes south of Albuquerque in the Village of Los Lunas. 

I also understand that it is not really educational so much as fictional.

American Homes for Rent (NYSE: AMH) numbers for quarterly period ended June 30, 2015.. for 37,491 single-family properties in 22 states:Rents from single-family properties $137,818,000Fees from single-family propertie...

For example one of them is Leisure Village West Assoc vs Wells Fargo Bank NA for $6,187.92.

So, that cap rate number is complete fiction.Cap rates provided by sellers and their agents are almost always fiction.  

Columbus is a great place overall, however you do need to be aware of neighborhood conditions/statuses as you can be on one side of the road and be in a great area (German village) and on the other be in a wasteland (Southgate) or near it.Lots of activity in Columbus along with extraordinarily low unemployment.

First I thought it was a joke...kept reading and was waiting for the part where the author would say "it is a fictional story"...lolOne can't be so naive to do such a deal, no way!!

Same story in Indian Village Burns /Fischer streets share alley with some of Detroit's best houses on one side and some of the worst on the other.

You can also go into some of the less sexy areas(North End, or Mexican Village) buy it and hope the neighborhood starts to turn in 5 years, and in the meantime some of the newcomers to the city get tired of premium rent, leave Midtown stay in Detroit, and land in those areas(two of my tenants have in the last six months).

What about Inspirada, Cadence, the Union Village medical development, Dragon Ridge, Ascaya, etc?