These cities tend to command quality tenants and they have great schools.

In researching my local market to get a feel for what certain areas would command in rental dollars per bedroom, I put together a simple spreadsheet with addresses, links to the "for rent" website where I found the rental asking price, and then calculated a per bedroom rate, as well as rental dollars per square ft. rate.

Which brings me to the next day, I got a text from the wholesaler at 6pm that a property just came up in the Indian Hill SD, near Kenwood mall – I was even more surprised by this than I was with the Hyde Park house, because houses in this SD really command a premium and I had also never seen one come up in this area.

New roof to be installed in next month.Note: fireplace in master bedroom is non-working.QUALIFICATIONS:Gross income must be three times the rent and must be documentable (meaning income must be $3,750/month or $45,000/year)No evictions or foreclosures in the last 5 yearsNo felonies or other criminal activities in the last 10 yearsLandlord contact information for last two places you've lived or the last two years - whichever provides more contactsCo-signer is acceptable if you have no rental history (co-signer must meet all standards and may be subject to additional requirements upon review)No pets/animals over one pound - no exceptionsAll occupants must be on the original lease (no sub-leasing)All occupants must be met by property manager/owner (exceptions for military personal with recommendations and contact information for commanding officers)Maximum occupancy = 4 adults or 2 adults + 3 children12 month leaseNo Section 8Required for Move-in:1st months rent ($1,250+$48)Last months rent ($1,250+$48)Damage Deposit ($750)Utility Deposit ($150)TOTAL $3,496Rental application fee paid by tenant.

Unless you can command higher rents there is no reason to upgrade to granite.

Without tax returns or operating statements I don't see how this will get financed unless you have access to private money.This is a cash deal, and if it's on septic will have about a 50% expense ratio with proper management (I never use the Sellers expenses as a measure).  250k is very high for this property unless you're in a metro commanding 6-8 cap for MHP's.

What is good about Military renters, is if you have any issues call their commanding officer and they will straighten the person out.Find out what BHA base housing allowance is for an E5.  

For investors, the most in demand condos for rental and command the highest monthly rent are those built by Ayala Land and Rockwell.  

The differences are not only 3+ percentage points higher, but $26,530 ready to invest for the 11th year, a higher monthly income (~800.00 vs ~1300), $7,896.69 more equity from tenant pay-down and much more risk diversity going to the reinvestment strategy.If the first example sold (no closing/commission included), there would be: $94,716.00 (87,966 after 3% comm and 3500 closing)If the second example sold (same), there would be:  $128,772.95 (108,522.95 same)Wouldn't this be a better metric to use since there is no risk or known loss break down during the term and since the cash flow is being re-invested back into the same asset class by principal pay down (regardless of amount of properties)?

Higher risk neighborhoods that demand more attention from a management company should command a higher return for the investor.  1.So I would say a solid property, renovation, management experience would be fine at 8-10% return without leverage.2.