The difference in this portion of the execution can be $30k-$60k/yr more money in your pocket vs. that of our competition all other factors equal (such as the property size/location).Next, to drive costs down, I co-host (only for clients) at 15% which is 5-15% less than the large PM firms.

Every market is a bit different, but sticking to what you would be desiring as a guest is more certain to hit than going based strictly off value.I find it ironic how vast the differences are between STR and LTR. 

(full disclosure-I knew the guy, or know him, he's not dead just gone from the auctions and haven't talked to him in a few years, but he was always nice to me and I don't have a clue as to the validity of the federal charges against him, but he always treated me decently and I've got nothing bad to say about him and I know other landlords who've been demonized and slurred as slumlords when I think they simply bit off more than they can chew, while other real slumlords seem to operate for years, as long as they don't get too big) He used to kind of dominate those auctions and maybe that was a good thing, as I'm sure there's a whole cast of characters who've filed that void.Thing is, ANY property under $100k, maybe even under $150k or $200k will certainly have multiple bidders, there are a LOT of people like me when I'm looking, who have the subscription to the sheriff's sales info reports from the Daily Reporter ($600/year and you get the results emailed to you in an Excel spreadsheet on Tues, next weeks auctions emailed on Thurs) and another good indicator is I'm on an email list for one of the firms (actually out of Chicago) which handles a tiny, tiny fraction of the cases and I've looked at the "cc list" or whatever you'd call it if ALL the addresses that email is sent to and there are HUNDREDS of them on there and this is for I think Johnson Blumberg, who many weeks don't even have any cases in MKE or Waukesha Cty.

I hear about these "structures" and it truly amazes me what some firms recommend.   

This leaves a margin to cover holding costs, financing expenses, and still achieve a desirable profit.Here's the formula:Max Purchase Price = (ARV x 0.7) - Estimated Renovation CostsKeep in mind that this is a guideline and not a strict rule.

He lived (or may still live) in Brooklyn for many years and covers all of NYC.Shooting you a PM.Best,AbelHi AbelI believe you know me already as your firm were buyers agent on the property.

One of my latest GCs is a firm that talks on a BRRRR panel at conventions. 

____________Located in a desirable state and town.

My firm requires one new build under your belt. 

Frankly, even local: the last 3 properties I bought were all in close to move-in-ready condition, because currently, I can't get enough discount on a property in a desirable area to pay for the necessary repairs and upgrades.The radical solution: move to Cincinnati, even the playing field and become a local investor.