I feel like a broken record on here, but cash flow with 20-25% down on a long term rental is kind of a myth.

However, without an MLS in the area, determining the right price to pay can be challenging.This lack of records makes our job more demanding but also gives me unique opportunities to help clients pay the right price.

BAM has a 14 year track record to boot. 2.)

That would be more than enough for me with a tenant I have a track record with. 6.

Like Jake Baker suggested, keep good records and have a dedicated bank account for your property, properly separating personal and business expenses.

@Jonathan Small government actions have led to an unprecedented 40% increase in the money supply, 50-year record inflation, record increase in interest rates, bank failures, credit tightening, CRE recession, housing affordability issues, mobility issues, inventory issues, and massive impacts to the world economies, every investment class, and our families, kids, and friends like never before. 

I do not use a property management service to advertise and have always used Zillow to advertise, previous references, housing records, credit checks etc

@Dalton Foote I have had tremendous success using direct mail and mailing the owner of record where the tax bills get mailed to.Generally, property management companies don’t pay the real estate taxes so this gets me right to the owner.Targeting wise, I would just do a zip code filtered by unit count using a service like listsource.  

The judgments have to be looked up manually, because screening software only looks for unlawful detainers and the Virginia court records don’t feed consistently accurate to the other programs.

I am looking for advice from seasoned house flippers, both in my local market and otherwise with a track record of success; or even with sound wisdom that can be applied to this potential deal.