You should be developing strategies to get in front of owners/sellers directly.As far as who these buyers are, this entire year has seen a lot of cash move into real estate:1031's finally able to get a fair price for their relinquished propertiesFlight from the inflated stock marketRace to lock in the fleeting historically low interest ratesPeople seeking tax benefits of real estate not available in other assetsForeigners sick of the abysmal returns on treasury notesThe good news is that very few of these buyers are talking to the owner of the fourplex down the street and establishing a rapport for a property that is not on the market.Good luck.

I guess this is true for all SFR... but it seems that if you can get in at the right price, people will pay very inflated rental prices to live in the Forest Hills School district which gives a property a better chance of cash-flowing.

@David KrulacAnd that probably doesn't even account for inflation

But those are full rehab numbers (new roof, new HVAC, kitchens, etc) so my % will improve with inflation in the near term as I've already absorbed the bulk of capex on those properties. 

My reasoning is pretty easy to follow- 1) Many of the rest of the world's central banks are lowering rates in fact some are going negative.  2) Inflation is currently a non-factor and is expected to be until 2018 given the continuing rout in commodity prices I don't see that turning around any time soon. 3) Labor participation rates are at long term lows.  

) $0.00 $0 General Vacancy Loss 10.0% $9,240 Expenses Monthly Annual Fixed Electricity $0.00 $0 Water $66.67 $800 Sewer $0.00 $0 Garbage $15.50 $186 HOA $0.00 $0 Insurance $415.00 $4,980 Taxes $448.83 $5,386 Other $20.78 $249 Variable Repairs and Maintenance 3.0% $2,772 Property Management Fees 20.0% $18,480 Other Capital Expenditures (Reserves % Gross Income) 3.0% $2,772 Market Assumptions Market Rent Growth (per annum) 2.0% Expense Inflation 2.0%

Perhaps, I rather let inflation erode this thing if I am around in 30 years.I may need the 5% to make the repairs and get the best rate.  

A summary of the changes can be found here:SEC Staff Recommends Updates to Accredited Investor DefinitionWhat's good:You can now take a test to qualify under the proposed rulesThere seems to be some critical thinking about the thresholds and indexing them to inflation instead of picking an arbitrary number and leaving it staticThere seems to be some critical thinking about who can invest whatThose with experience in private deals can exempt outWhat's bad:It seems hard for portals or funding platforms to implementWealthy investors are capped unless they make over $500k annually or have $2.5M in net worth

Everything would be handled in house by us and I figured that by down The road when we are ready to not be involved everyday the inflation of the price of rent would cover this cost. 

If you get a reputation for over-priced properties, low rehabs, and/or inflated ARVs, your properties will sit.