Nothing too sexy about this deal but it got my foot in the door.   

In my markets, for multi-family, I am targeting a high single digit cash on cash return and getting a mid-to-high teens “combined return”, as I think about it.

In north Idaho, temps often get down to the teens and sometimes below zero.

Back in my teens, I spent 10 years as a carpet cleaner and have seen rentals completely destroyed by pets that a $300 pet fee wouldn't come close to covering.

In most cases I would say anyone investing in small unit count residential housing for 12% return likely either does not know what other options are available or how much work residential is (most likely both).  12% return when historical on S&P approaches 10% and is more passive.  12% return when most syndicators offer upper teens or low 20s for much more passive LP option.Multifamily is not passive. 

The lure of big money, all at once, is very sexy.

My suggestion is avoid sec 8 tenants with lots of kids (especially teens). 

You could put teens or non-couple adults in that configuration. 

I find this to be impossible since I keep track of my own but its in the teens and between my wife and I we have almost no debt outside of mortgages.

I guess land flipping is not as sexy as other REI, but that intrigues me all the more.