Not saying that happened (unlike the approach taken by Mat), but the whole ordeal seemed ultra shady.And that's not mentioning anything about the shady arrangement you have with your local title company or the tactics allegedly employed by your various agents. 

Unfortunately that is what i'm up against here in NJ, unless I want to go ultra cheap and deal with poor, undocumented tennants.

100% vacant people are attracted to the ultra low price but many hard money people will not even lend on those.

Without having current tenants and relying on a significant rent increase in the assumptions, I would run a separate ultra-conservative analysis and see if it would cash flow using historical rent levels.

@Pat Brown, some agents in my ultra-red-hot Denver market report seeing as much as 20% of offers falling through, even cash offers.

With the ultra competitive and high entry costs of Southern California, I've decided to use some of my contacts in southeast Michigan to help me start investing there.

He doesn't consider buildings in Dallas Texas to be much of a city.I definitely disagree with his advice of moving to Manhattan, because the housing prices are extremely expensive with laws that are ultra tenant friendly. 

I've seen hosts like Chris Choi going full into extra luxurious houses for the ultra-rich and stating it's recession-proof, but again if you're just starting out, I wouldn't recommend it.

Otherwise you are giving all the profits to the hml and then to the government for taxes and one is left with a pittance for hours/days in the ultra hot texas sun at times. no fun.

Each bank is trying to be ultra-conservative by asking their appraisers to use REOs and SS in the comps while lending.