Purchase price 70k currently pulling 900 rent ARV 110 - 140k, rehab about 25k 

I am continuing to make payments on the existing mortgage from the payments received from my buyer, which I am assuming is a characteristic of a wrap-around mortgage where the seller acts as the financier for the difference between the existing mortgage and the sale price.

What makes me nervous is his hasn't sold yet for the $495,900 price.

You can also split the difference by looking at the historic energy usage for the property and setting that as a utility 'cap.'

Shelby Park is getting a facelift from many investors (myself included) and Smoketown is the next neighborhood in line if you're looking for an affordable price point with future growth.

For example, incorporating energy-efficient solutions and smart home technology has been a game-changer in similar markets, especially when paired with features like office spaces that cater to remote workers.As for potential add-ons, corporate housing partnerships are a brilliant suggestion!

@Cecil ShannonIf you can invest locally I would do that, but if the numbers don't make sense and the price points exceed what is doable for you then I would look out of state in another market where you can achieve what you are looking for.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Based on the data I saw from ABOR the median price YoY (2023 to 2024) was slightly up (around 2%) and the rent was flat to slightly down.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly (so you will never have to go through a 12 month eviction or anything close to that!).