The building was in such poor condition and not habitable os by remodeling and bringing it up to today's standardWhat was the outcome?

They have two things in their favor, os you decide:1) Access to RMLS and can set alerts and2) They spend all day long looking at the RE market and talking with owners.Unless you want to pay that price, I think I'd find a good broker and make friends.In RE, making friends means:1) You have the ability/wherewithal to close deals and can prove it2) You can decide quickly3) You are somewhat loyal.  

When we lived in California we had OS as well as local rental properties.

I am in a crunch as due to moratorium, I cannot give any paper work re: eviction or 10 days to comply due to lot os So basically the tenant can do whatever and get away with it.

@Andoni Garcia I used to invest OS (cash) when I lived in California.

@Matthew Greco I would try to sell before prices drop more and invest the money in rental property OS.

Originally posted by @Mary Mitchell:Originally posted by @Joe Villeneuve:in reality your $1M in cash bought you $5M in property value, and 5 times the cash flow.not quite  - the levered money gets you a little more cash flow - but not 5x   20% = 1/5...therefore, 5 times 20%...which would usually equal about 2.5 - 3 times more than an all cash buy os a buyin.   

Small MFs actually sit on the market IF the income os low and deservedly so.

I hope you will do some searching here on L/Os and find my remarks about them and the issues to address. :)

So, the deciding factor should be the machine specs, not the OS.