It was a lackluster experience:   different tenant each year, some more flighty than others, crap property mgmt company.  

Not because I am worried about an aggressive dog but I am more worried about stepping in dog crap and the damage a dog does to the inside of the place is not worth it.  

NOI=GI/2Value = NOI/cap rateYou are calculating NOI using a rule of thumb  BadYou have bad NOI and not ONE cap rate comp (that would have actual expenses) so your VALUE will be crap. 

So many gurus have tossed a line of crap, wholesaling is work, but it is a real concept. 

I am talking quality areas and not crap holes a lot people are selling to out of state investors.

I see this crap every day and it makes me sick.

That little piece of crap cost me $2600 NEW and did 115 MPH!!!!!!!

Don't get frustrated at second round highest and best offers and all that crap.

It's a crap shoot for you.That's why a buyer needs to be prepared to payoff that obligation at any time, by refinancing or a sale if you don't have cash.

Yup.I will note that it's quite often the case that a 'perpetual tenant' drives up to my office in the flashiest of cars possible, and a humble landlord with millions in net worth drives up in a 15 year old piece of crap.