My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

Or building out systems like CRMs.

Jumping deep into real estate investing and looking to connect with real player— investors, buyers, and deal-makers. Based in Santa Monica, focused on out-of-state markets with strong growth.

Not here for sales pit...

I assume a higher upfront cost as far as land purchase and the actual build but you would have a brand new house, instant equity and hopefully maintenance free for quite a while.

Great way to build a business and a rolodex of listings/sellers.

Opportunity to build a quality portfolio exists at any time and in all kinds of markets. 

Hello Trying to get back on the real estate investing space and build new connections that can help me to speed up the process.

The building has some deferred maintenance that I have been dealing with.

I also really like the idea of building a brand that you could sell.

These markets feature turnkey properties, such as new builds or fully rehabbed homes that are tenant-ready, with systems that still have about 10 years of life remaining and property management teams already in place.