I've been targeting probate leads.

Your target occupancy of 100% and expense ratio of 33% is a bit optimistic.

It doesn't matter - You as the big bad rich landlord have a target on your back and will be named to the lawsuit and your insurance carrier will rush to settle it quickly and then you'll be dealing with the long term challenges of having that claim in your insurance history. 

The plan was to complete flooring, electrical upgrades, new kitchen and bathroom, exterior fascia work, and some new windows, with a target listing date of June 15th.Update (5/12/24):The property has been stabilized since June 1st of the previous year with great tenants in place.

Our capital raise is not over, the target for this fund is $250M.  

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

I am also targeting small multi-family properties starting out.I understand your point on the costs associated with purchasing, renovating, and maintaining properties.

@Elias AzoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Additionally, connecting with local real estate agents, property managers, and contractors in your target areas can provide further support/insights.What markets are you looking into? 

TLDR; Finding landlords who are interested in arbitrage is a by-product of targeting the right landlords, creating a valuable offering, then putting in the work. - - - - - I have a portfolio of 10 arbitrage units in Phoenix and work with three landlords.