They were a syndicated STR that went belly up.

@Sabrina Bell I just sent you a DM. 

In these "quantity" areas, you'll have a very hard time finding a buyer who has a down payment and can qualify for a loan .This is an article Jack Miller wrote about the topic.Making money from the earnings of poor people is like getting orange juice from an orange tree without any oranges on it.

But when you are trying to compare how to spend money versus non-real estate alternatives like stocks and make sure the juice is worth the squeeze, IMO you want to do a proper underwriting. 

There is places to slash costs, paint isn't one of em, the juice simply isn't worth the squeeze. 

And from what I have seen from owning over 200 section 8 doors personally from Detroit to Jackson MS.. is the Juice simply was not worth the squeeze.. so we own Zero today.

He said he saw some 'bellies'.  

Take your time, spend the money, invest your time and energy into actually coming to the market, sitting down with these brokers, property managers, other investors, go to networking meets, get in the market, get face to face, belly to belly with the brokers. , trust me, if you fly the way all the way from California to Raleigh, North Carolina, , the broker in Raleigh is probably going to consider you a serious buyer since you just spent, you know, a couple thousand bucks and, you know, three, four days to get there.

A refi only juices my returns in that scenario if I refin in less than the 5 year projection. 

It's easy for sponsors to juice returns on paper.