A fair entry point seems closer to $225,000-$250,000, but the terms of financing could justify going slightly higher if cash flow can cover the payments.

Like you, when I'm working with clients I highlight the key advantages of the conventional rehab loans (Fannie Mae's Homestyle and Freddie Mac's CHOICERenovation) are:- They can be used for investment properties- You can include luxury items- They have a higher limit – $806,500 in most places.Jeff

As sellers realize that buyers cannot pay the same price for the same income stream as before due to the higher rates dampening overall buyer returns over that 6-month market cycle, sellers will eventually transact at lower prices, making it more apparent to sellers where the current market pricing is.

It's definitely possible to get a loan as a foreigner but the rates will be high(er) and the downpayment required will be as well.

From what I can see, I’ve only seen higher rents like 1000 for a bedroom right in the city. 

All are perfectly functional now, but could pull higher rent with replacing the flooring, and updating the kitchen.My current financing setup for this deal would be $235,000 from the HELOC I already have secured.

May or may not work because everything is negotiable, but it's worth a shot.Maybe prices are a lot higher up there, but I spend about $550 for a full inspection and wood destroying insect report and then do additional inspections if I feel the need to.

Also, for those whose BUSINESS (as opposed to just investment) is STR, they can scale successfully while their experience and knowledge of the industry may allow them the opportunity to uncover and recognize those few opportunities that will provide a much higher than market risk adjusted ROI. 

Other notes: - Higher density multi family properties can be very hard to secure on the coast, but very profitable.

This would help you get going.You might be able to make these a  little nicer and force appreciation and a little higher rent.Either way rents will go up over time and the mortgage with remain constant.Maybe even make one unit a STR which could see higher income.I'd be ok with break even or a little bit negative on a Quad given you have 4 properties in one.If you're only breaking even you still have depreciation and other tax write off to help you out.I usually make people 3 offers.