As someone posted - the actual priced based on a 6% cap rate will be much less that what is currently on the market - these sellers are seeing SFR prices going through the roof and somehow thinking that it applies to Multifamiles - but a MFR is only going to be worth what you can get out of it  and investors are too savvy to pay what they are asking which is why so many of them are just sitting on the market right now and agents are blowing smoke up about their cap rates

. $100k for anything in Old Town is a smoking hot deal, get that baby under contract!

Do they smoke?

Perhaps this is why Uhaul feels so strongly to move into this space...the same way the tobacco industry now invests heavily in the smoking cessation industry. 

The other side only has smoke damage, but that tenant is displaced as well. 

Quick answer TammyDo you smoke?

:) One that gives me raises every year as the consistent increases in cash flow and appreciation continues every year except in the financial crisis for a few years.I will probably continue to buy properties and self-manage them until I see it will take more than 20 hours a week.BUT, with all the automation, smart sensors and leak and smoke detectors, wifi cameras and locks, etc., I am wondering if the only time consuming event will be bad tenants that need eviction.

a lot of other people take photos smoking weed, being drunk, pitbulls, guns ,etc...    

The house is mostly cosmetic just smoke damage, fire did not go through walls but still curious if they have to be replaced due to regulations and such?

By short term I mean 6 months or less.So the model I’ve been using is: find a smoking deal that needs a major rehab.