Brand new to REI and in the process of just acquiring knowledge before diving in anywhere.Since I live in the SF Bay market craziness, I'm looking into opportunities out of the area.I know Austin has been a hot market recently, and as such may not have much available (in the cash flow sense), but I'll be visiting there next week and curious if it's worth reaching out to a realtor there to take a look around.I figure when I'm ready, I'll probably look to buy-and-hold a single family or multi family that starts with cash flow.  

Here's the situation:  I've got a single story SFH in southern AZ.  The house has natural gas lines running to the gas furnace, the kitchen and the laundry room.  The only thing hooked up to the gas line is the furnac...

Here are the key data points:Park info  Located in Alabama61 lots25 owner occupied homes18 park owned homes (14 currently rented; 4 currently being repaired and should be rented soon)18 vacant lotsAvg lot rent - $160 (unknown what the market rate is but it doesn't sound like there has been a rent increase in at least a year, maybe more)Avg POH rent - $400Expense ratio - seller claims 26% but I'm estimating 35% for the lots and 50% for the POH'sCity water - individually meteredSeptic - good condition (allegedly); a couple were pumped last year, none this year (no lagoon thank heavens)Seller claims gross income $130k, expenses $30k, and NOI $100kI calculated gross income of ~$135k, expenses of $60k (55% on POH and 35% on lot rentals), and NOI of $75kOther infoMom & pop seller, but park is listed with a brokerPark has been on the market for > 3 years (recent price reduction)Greater metro area stats look goodPopulation = 115kMedian home price = $105kUnemployment < 8%Household income > $40kHousing vacancy ~ 15%Closest Walmart is 7 miles awayFreeway is 1.5 miles awayNumbersMy valuation is coming out about $80k-$100k under the seller's asking priceWith conventional financing I'd be hoping for a purchase price of $500k, $100k down @ 6% over 20 years (not sure if this is plausible or not)Assuming that financing, I'm expecting net cash flow of $40k (after debt service)Upside potential is in raising rent and filling the 18 vacant lotsFollowing the same assumptions above, raising rent $50 (if the market supports it) would change NOI to ~$90k and net cash flow of just over $50kFilling the vacant lots could potentially increase gross rent up to somewhere between $150k-$200k, depending on what the appropriate occupancy rate is for the areaWithout verifying any of the above information (haven't offered anything yet so there's a lot of DD left to do), the deal seems to make sense. 

I don't know about your market, but where I invest (Berwyn, IL) the market is crazy hot for multifamily.

I purchased a 12-unit building and I need to replace the boiler.  One contractor recommended a 410,000 BTU Burnham boiler.  He claims that's the best value for the money and it will last for a long time if properly ma...

If there was a little more cashflow, would it eliminate an argument here or there about what brand of laundry detergent to use or to use hot or cold water?

HI BPer'sI'm seeking to buy some more multi families, in today's hot market it looks like off-market could be a good option.Does anyone have a good template letter for Mailing Multi-Family Owners?

If directly in Cambridge (Harvard, MIT, Tech booming area) or similar "hot" areas and in the prime season any tenant would be hard pressed to find an apartment by owner without the fee.

In a hot market just list and sell it.. no mystery.. 

Due to the sheer amount of investment opportunity, there is underground murmurs that in years to come, Westwood could become the next "hot spot" for young, hipster buyers.