I've personally driven this neighborhood and was amazed at how nice and clean it is.

What neighborhoods / areas of Charlotte and RD do you like?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

And if we're dealing with properties that are in a better condition so that there is not much fixing that needs to be done.. then the last thing missing is finding a great property management firm.

We are coming down to get a feel for some neighborhoods we've been looking at moving too and don't really have too much planned so I thought it would be a great time to connect with some lenders, investors, contractors, and liked mind individuals while I'm there!

I am a firm believer that if someone raises money they should have some sort of experience and also financially have a strong foundation themselves.

But, you'll need to get with an REI-savvy bookkeeper/firm to help you set it up since it's not an REI-specific software.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

I would recommend you look for a good neighborhood to buy a multi family in.