I've lost friends and family to substance abuse so it seemed like an opportunity to do some good and make money in the process.I negotiated a sweet deal, and was prepared to buy it myself, but a few of my clients expressed interest and I ended up helping two of them form a partnership.

As you look to scale, just make sure to hold/build reserves for when repairs come up and take your time screening tenants as you will find a vacant unit is much less stressful than dealing with a bad tenant.

@Joel Bongco can you share what changes you had to make to FUB to make it work as an investor CRM?

We do have to come up with 40-60% of the LTV through investor money!

What difference would that make?

In the future, either get your Real Estate License so you have access to the MLS, or make friends with a realtor so they can get you comps to get an ARV.  

You are LOSING money because you didn't even raise rents to cover those increases!

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.Happy to connect to discuss further. 

Like others have mentioned, there are definitely areas that make more sense than others depending on if you want to focus on cashflow or appreciation (just like with any investment).

You need a management plan in a market to make it viable.