Because Florida was one of the hardest hit areas during the '08 meltdown, a lot of properties were scooped up at ridiculous prices and now have taken off like a rocket, especially in Orlando. 

This stuff isn't rocket science.

None of this is rocket science  -- it is a fairly limited skill set, with a fast learning curve.   

In saying that it’s actually not that great for MFR.2% is much better. 200k gross income $1mill purchase.Because from the $200k income about 50%-40% off for OPEX.Another way is to do a market research in the rents and notice of the current actual rents are bellow market.  10% or more bellow market can be a sign for good value add opportunity.Multifamily is more complex to underwrit then houses but not rocket science.

But it isn’t rocket science. 

It is not rocket science.

Downtown a lot of the rents and areas have already sky rocketed or have already been gentrified, are being gentrified, and there is some community sentiment issues because low income households feel they are being pushed out of where they lived for years and years.

And all I was saying is that I have a slight "twist" on the Lonnie model, though it's not rocket science at all.

If you use the 50% rule and take an 85% loan at list price at the 5% you said you would get you are looking to get a cash flow of about $214 for the 4-plex or $53.50/door.Unless you feel the value will sky rocket then this is a huge dog.

I know it's not rocket science, but do you trust they will do a good job?