It's critical to establish a strong local network and gain a full understanding of the target market's dynamics.

And because noise reduction items are not visible and don't provide a visual sell they are ignored.

It is tough for rational investors to compete with that dynamic. 

I personally built & own a 12 unit, 100% occupied (for last 3 years) multi-family , with 10.5 % cap, $115K gross inc, on 3 visually appealing acres, located within 3 minutes of a major military base (yet I have 50% "civilian tenant ratio"-thus my tenant base is diversified), 8 minutes from a recreational lake & tourist destination.  

. - in our current market dynamic.

Michael (our son, partner does all the architectural preliminary plans and visualization, so he's ahead of the game!)

@Rachel L. if you're planning on flipping it rather than holding, that changes your dynamics entirely. 6Br is still a big house and 1 Ba is not sufficient for a 6Br house.

I think that's why I love real estate, it really is a combination between numbers and visual appeal :)   I'm currently looking for a team and/or partner up with, and can do either flips and/or landlording.   

Real Estate is really a dynamic industry anywhere you go... and that's why I love it!

I do not know your family dynamic, but I would hate to see the Thanksgiving Dinner after getting a lawyer involved.Who knows, maybe he wants to buy the house, or just wants to be consulted.Just my opinion.