Anyone who can fog a mirror can buy a rental.. but its what you do with it after you own it that will make or break your investment.there are markets within 90 minutes of you that would probably work as well if you don't want to  go all across the country.

:) This feedback is mirroring my initial reaction when I put these numbers together.

It's a cliche.However,one other fad we have seen on BP is this pull to lower priced markets (I won't mention names so as not to offend sensibilities,but you probably know them).The reality of the business is that these markets are lower priced for a reason.You may be getting an assassin's cash flow and C-O-C returns today from your units in these markets but when jobs hemorrhage in a recession,your cash flow rapidly turn negative.Big markets suffer less in a massive recession.Occupancy and vacancies mirror what the local job market is doing.The sole reason I relocated to Jacksonville from Cleveland in 2011 is to stop being an "out-of state investor".That brings me to the other point under this topic.We saw a very lucrative 16-unit listed some 18 months ago.Well,it should be lucrative,except despite listing at an attractive price,most interested buyers couldn't get the numbers to work.The numbers didn't work because the out-of-state owners were getting absolutely wiped out year-on-year by phony expenses logged by their "boots-on-the-ground" and PMs.Even in strong markets,it's crucial to buy in good parts of town.That way,when vacancies inevitably occur during the apocalypse ,your copper wiring or HVACs won't be stolen....or your property vandalized.Choose your market wisely.

And can't wait to see what else you put out going forward.FYI I think there is a great opportunity to copy Tim Ferriss - Tools of Titans and mirror very closely how Tim took all podcast guests, consolidated into one book, a few pages per guest, and extracted general background along with major tips, tools, suggestions, and common answers from the guests.I'm biased.. but I would love to read a bigger pockets book that had an almost identical format to Tool of TitansKeep up the good work BP team/ community

It does not provide additional Property coverage.Also, an Umbrella typically mirrors the terms in the General Liability policy, not removing or adding coverage. 

Rather ironic that many of these issues can also be applied to any lender, including funds being the subject of this post, another reason I wouldn't drill to deep into risk assessments by the public or borrowers, it's like looking in a mirror.

For example, I can gut a bathroom and do new vanity, new toilet, new tub, tile on tub walls, tile floors, mirror, and glass tub enclosure all for around $2500.

No smoke, no mirrors done recently 1 year ago.

Proper cashflow and systems are what supports growth, not someone else's perception of your value.Your attitude mirrors the other true decamillionaires we both know.Tim

here is the linkI have tried uploading and hyperlinking to photo bucketeven just pasting the photbucket link in the body of the post nothing seems to work.