Yes, there's a shortage of low-cost housing in West Palm Beach and Malibu and Portland Oregon and Asheville NC and other places people want to live.

Do you have a total price range you're looking for, or maybe a cost/door?

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

There are no upfront costs so why not establish a relationship with someone who actively represents real estate investors and move forward with vetting your ideas.Best.

Negotiations focused on securing the property at a favorable price, enabling us to achieve a profitable margin in a highly competitive market without requiring additional renovations.

It cost me $8500 in my HCOL to get the electric separated on a 3 unit.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

In general higher cost neighborhoods are safer than lower cost neighborhoods.

Even still, it could be said that I've still lost money due to my time on the tools instead of prospecting as a real estate agent (the cost of lost opportunity).If you can truly do 80%-90% of the work yourself (at acceptable quality levels) and you aren't sacrificing your time where you can get better returns for your efforts, then yes, it can work even up here in Canada.

Sometimes, buying an existing property can be more cost-effective and less time-consuming and maybe require slightly less permits, etc.