People don’t want to share their quiet neighborhoods with renters who don’t value peace and quiet and a sense of community.  

We have an opportunity coming up from a family member who is willing to sell us my childhood home for what they got it for (240k) and the comps in that neighborhood are 600k+.

This is not a market for a generic, new build, cookie cutter home in an HOA neighborhood!

If you want real rental history for your specific neighborhood and data points on appreciation of your area specifically, let me know.

Purchase price: $155,000 Cash invested: $60,078 Sale price: $275,000 Fix & Flip property in great neighborhood in Saraland, AL.

You need a firm estimate for the remainder of the work as your funds are limited (like most people who don't have an endless amount of money). 

Quote from @Sofia Komrskova: @Eric GerakosThere are A and B neighborhoods in Detroit and Cleveland as well.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

The property is zoned as a SFR house and likely in a neighborhood of the same.Was the property not appraised by the bank when you got your mortgage?

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