•If there’s high competition (many active rentals in the area), you won’t be able to price at the top of the market since tenants will have plenty of options.3.

Many of these lenders allowing 2nds behind them are more expensive capital (10's - 13's in our current market [high rates - but now showing signs of coming down]).

However, I had to subordinate the sellers note to 2nd position (hint: set up that language in advance to streamline the process, if that's the direction you're going to go).Since the ARV was high enough, and the potential income would support the mortgage and expenses, it all worked out. 

My experience with clients utilizing the large firms is high priced packages that are often more robust than the client's needs at that point. 

I know it is still down season, so listings are thin (especially for MF which is our preferred route), but it is starting to discourage me; like we've already missed the train of cheap debt and rapid appreciation/inflation that so many others took advantage of in recent years.Are my expectations set too high for my target area? 

I don’t care if you steal a property, high quality tenants will never sacrifice on being safe and feeling safe.  

Hi Charles, as Matthew as pointed out above, the deal will be priced aggressively due to the high rehab component.

Highly recommend them both if in the Inland Empire of California.

For the high cost areas like Palo Alto it is difficult to get a property to cashflow out the gate because rents have not caught up with the cost. 

If Airbnb is your best option, choose a location with high occupancy rates and optimize pricing with dynamic tools like PriceLabs.