Given your firsthand experience with the Alabama market, particularly with septic-specific considerations, your insights would undoubtedly provide a more accurate perspective on the operational and maintenance costs affecting this asset.Even with the available information, there are still substantial assumptions and speculative elements that must be integrated into the current and pro forma financial analyses to provide a meaningful valuation.

They were selling on pro forma, but the market and the debt market have shifted, and it's aa lot harder to achieve higher pricing with lower rents.We've purchased over 2,000 units, and the simple answer to the question is that they are either mom and pops and run their businesses with ZERO KPIs, they do not want to risk losing tenants if they raise rents, and they don't treat their asset as a business.When you take over, it can be difficult to get rents to market if they are very suppressed.

Most of the replies have been to get a PM or put systems in place, but I'll share another perspective.

The insights shared by the Realtors, @Zeke Liston, @Jimmy Lieu, @Nathan Gesner, @Samuel Diouf, @Sam McCormack, @Min Zhang provide a solid foundation for anyone starting out in this industry.From a property management perspective, it's great to see you're considering the long-term rental strategy.

For investment properties, it’s true that buyer agent commissions have seen shifts recently due to legislative changes.

How would I start to go about finding perspective single-family homes that are current rentals or could be turned into rental properties? 

The decision you must make is where do you want to live from a lifestyle perspective.

Very different terms than what your friend is seeking but more aligned with what your friend can offer the transaction from an investor's perspective. 

I appreciate you sharing your perspective!

If it’s in a great part of town, these generally tend to not be the best from a cash flow perspective.