Most hard money lenders base their terms on the deal’s equity and your experience, so with a solid flip track record like yours, you should be able to find better leverage — especially if the deal has a strong ARV.What's the ARV on the property?

Seriously, it's important.And as mentioned above, the amount of rent you receive on multi-family properties is based on 12 month rental comps.  

To remedy this for next time I am in the process of creating a design board that can be used as a base for future flips.

We're willing to live almost anywhere in the greater Sacramento area based on what we can afford, provided of course that the property is in a decent neighborhood that has a good chance of attracting responsible tenants.As for budget, I believe we could get a conventional loan for properties up to $600k, but my strong preference is to find a distressed property (or seller!)

The already-constructed home is one point on the base of the triangle, and the other plots comprise the rest.

Quote from @Dean Harris: @Mike SferaThis is a great question and one I get from our client base often here in Memphis, TN.

(aside from the 1 or 2 homes that have stunning overlook views).When building out your buy box, are you all using the averages, or are you basing your min/max on the cream of the crop listing revenues, even when there aren't clear reasons as to why they are performing so much better than others?

Look at all of the costs and then all of the revenue and make a decision based on that. 

We are based in NYC but are considering (as of now) locations outside of NY but within a 300 mile radius. 

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.