Just like sales where clients think you just list the property and collect a fat check at closing there is a MASSIVE amount more to PM than you might think.

Cities and counties are trying to be "fat cats" right now and send out their assessors to pump up valuations.

Therefore, I try to focus more on the property.Since I am focused more on buy and hold, I look for areas that are undergoing improvments, close to public transportation, fairly clean, boarded up houses.I would suggest going to a REI club meeting or go to a seminar held by your local housing authority.

Numbers on the property look like this:Purcahse Price:$143,200 Repairs: $32,944Carrying Cost: $746/month (utilities and loan payments)( carried for 2 months and counting) Total invested:$177,636 ARV: $205,000Listed at $209,950 ( on market 30 days, alot of interest and compliments but that doesnt matter because I have a big fat Zero offers) Major issue is home has a permitted garage conversion and buyers in that price range in the local market really want a garage.

Biggest downside to turnkey IMO would be the difficulty of buying a turnkey property with in-built equity.Many investors are always after some fat being left on the bone and this is hard when buying turnkey as the provider wants to make sufficient margins on the product for the services provided.Thanks and much success.

I would want much more fat in the deal at that price.If you can pick it up between $150,000 - $200,000, that would justify the risk IMOThere are opportunities in the Midwest where you can make $20,000 - $30,000 on wholesale deals in the $70,000 - $100,000 range.Thanks and have a great day.

The property is SFH 3 bed / 2 bath it is located in good neighborhood that is currently undergoing alot of development and investment activity.

I have been using 10%, 14%, and 8% and didnd think they had THAT much fat in them.

These properties are still modestly priced compared to the more desired, high traffic areas that are undergoing lots of redevelopment.

Fat forward to about 3 weeks ago.