If it's a good asset(meaning primarily good location), you eat the 5.3% cap no problem you own the physical asset.

It doesn't add layers of physical damage coverage or cover things that wouldn't otherwise be covered.

Being in NY maybe something to do with physical document transportation?

Do we focus on flipping, (currently we have actually been trying to do this, but we physically can't find enough contractors in our smaller market <100K population to do that much work).

That being said, I've definitely signed leases for properties that were on the other side of the country and I didn't get a chance to physically see them before signing the lease.

Just so you know you can use a USPS PO Box as a physical street address now and receive UPS and Fedex there also. https://ribbs.usps.gov/index.cfm?

I see some larger single family homes in areas that appear to be zoned R2 that, at least from a physical perspective, seem like they could work for this.

One area can show great signs but literally cross the railroad tracks and it’s a different world.Be aware of these types of physical delineation.If you are getting no demand from qualified applicants then I would say it’s not in a margin of a gentrifying neighborhood.  

HI @Ananth SubramanianI have not been in your shoes but have read others that have and from what it sounds like getting the judgement is the easy part and physically collecting the $$ from the tenants is the hardest most impossible part.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.