Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Ask them how well they know the neighborhoods in your target market.It all boils down to their experience working with out of state investors.

This poses the opportunity to acquire a distressed property today, spend the next 3 years to fully stabilize the property, capitalizing on the coming spike in rent growth, falling vacancy, falling interest rates, and compressing cap rates for multifamily real estate in the D.C. metro, as well as the option to hold the property as a safe and lucrative long term investment given the macro factors coming to Washington D.C. and the fundamentals of the multifamily sector.Cap Rates, Interest Rates, and the Best Sellers to Target to Get Deals DoneMarket Cap Rate, DC Metro, (1/7/2025) Period Market Cap Rate 2030 5.1% 2029 5.1% 2028 5.2% 2027 5.3% 2026 5.4% 2025 EST 5.6% 2025 YTD 5.7% 2024 5.7% 2023 5.6% 2022 4.9% 2021 4.4% 2020 4.8% 2019 5.0% 2018 5.1% 2017 5.1% 2016 5.1% 2015 5.0% 2014 5.1% 2013 5.3% 2012 5.3% 2011 5.3% 2010 5.5% 2009 6.2% 2008 6.2% 2007 5.5% 2006 5.4% 2005 5.6% 2004 6.1% 2003 6.7% 2002 7.3% 2001 7.9% 2000 8.4% Cap RatesIn the next few months, cap rates on the right deals should be rising, making it an opportune time to buy.

BUT, there is also the chance that it comes in at or near your target.  

The properties I am targeting are thought of for infill development first, but when those numbers don't work rehab second.

Look for a team with a strong track record in managing rentals like yours, especially in your target area.

Quote from @Jules Aton: Does anyone target retention? 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Make sure you choose a realtor who is used to travelling into your target community and not just engaging properties from behind a phone/computer screen.

That's why I would target them a week before foreclosure sale and put all effort on homes that were all but certain to go off the hammer.