All of the inventory I have seen that these TK companies have is in C- or worse areas!

I have heard people on these forums talk about using the Nest thermostat to set a maximum low + high temperature, to keep guests from blasting the a/c or accidentally bumping the heat up to 98. 

It has been hard finding a place that 1) Doesn't get bid up by cash buyers that we can't compete with 2) Doesn't have 10's of thousands of capex out the gate3) Is in an area that I'd grade as C+ or better.

And the fundamental part of the investment needs to be a bet on the underlying land value as a scarcity play.We've been saying that on BP for a year + ad nauseum.

I would say to start simpler on your first property, 1940's build or newer, brick build, 2-4 unit(that was actually built as a multifamily to begin with), C+ or better area, etc.

@Justin Rowe My main focus was to find a property with acceptable profit margins, and in a C- or better neighborhood, which at the time was challenging.I ended up buying in the Alta Monte neighborhood.

Not only that but you are going to carry a Heloc in a 2nd lien position and you will not be able to pull out more cash unless you do a cash out refinance to pay off the previous Heloc and take out more cash.85% of the home owners who take out a Heloc refinance in 3-5 years so it makes more sense to simply do a COR and avoid the future closing costs.

So, unless you're willing to take a significant discount to get rid of it as there will be tons of competition, hopefully the numbers work to rent it out.

You have to be an expert at dialogues and the risks of subto are not widely known or are said to never happen (loans being recalled), but that's not what I would bet on.

I recommend getting a single family property sub $150,000 in a C or better location.