I personally hold 5 CFD's with values in the low 30's but  valuations in excess of 70K on each property.The reason i like the CFD's are that in the event of default, as a general rule, you don't have to foreclose, just evict which is much lower cost and more important to me faster.If the borrower defaults and I have to foreclose, I can turn around and sell the property again at an updated price.Since i only paid in the high teens for each of the notes, the downside is something I can live with.BTW, all notes are fully performing and I'm getting an average yield of 28-32% and have about 250 payments left.Final comment.

I like to see cash-on-cash ROI in the mid-teens or above.

It's a light cosmetic "flip," way underpriced in a prime neighborhood and my family and I would live there until the two remaining teens head to college (about 2 years) while we fix it up. 

I usually explain to people Charlotte in comparison is Atlanta's little brother who is in its teens years.

Texas averages mid-high teens and more.

If it happened during her "teen brain" years, ages 15-25, I wouldn't be concerned.

If you get an obese person living in the unit, you will need to be good at repairing floors because the floors in them are pressed  sawdust and a fat person will pretty much fall through wherever they step.      

Background Check: I currently hold a security clearance, and have ZERO criminal history (minus a handful of speeding tickets as a teen).

Neiboring values range anywhere from teens to high twenties.

Trying to use future rents AND current GRM's is double valuing the rent growth.That's why you see high teens low twenties GRM's in high appreciation and rent growth areas but sub 10 in less profitable areas.