What @Brian Gibbons said...SLO's and sub-2's are fine, but you need to know the market and have the players in place such as ...contractorsattorney/eviction peoplepayment processingmortgage peoplecredit improvement specialistand...knowledge of the market area/market rent and market values.

I think rents will edge up a bit over the next year.Like you said, Phil, our market could go either way depending on the bigger players.

sure they cheat blatantly at the casino but the marine environment is stunning.complacency always costs money,

Haha, Seth I just got back from snow skiing and the casino and leave tomorrow for two weeks at the beach.Pay someone to do the work and go on vacation with the TIME you saved.

I have come to the conclusion that this is a waste of time searching for deals on the open market, and that before you get into the multifamily business, you need to get educated to become credible, start a relationship building business with the players in the area, and a start a marketing business that directly reaches out to the owners of these properties - to break bread with them and share your goals.  

Build a network of team players that can facilitate your deals.

Tons of big players there including B2R, First Key, Colony Capital, LandSmith, Realtytrac, Moody's, and a if and flip company that did 2300 flips last year.

Marriage is definitely a team sport, but each player has to realize they do not have to play in an identical way to be a good team.Having a good deal happen can help.

My hometown player Kroger might swoop up Safeway before the bidding period ends.http://nreionline.com/blog/analysts-encourage-kroger-bid-safeway

@Jay Hinrichs ...Basically, this is the only company(FNAC)...some information out there, but wanted to know if an BP experience...Local investors believe note buying ended with mortgage crisis...I believe it's viable, but need to make connection with real players.....