we did the first 3 in a 18 month period we used internal funds so no debt.. these were 350k to 400k all in projects.. so U need cash to be a spec builder or you need investors if you dont have cash..

You are competing against other owners who have a much lower basis and/or debt cost to cover. 

The country has massive debts and deficits. 

In NYC trying to compare like properties and eliminating co - op debt, co-ops will sell for 60% to 200% of a comparable condo.  

He has owned it for over 30 years and has no debt, so seller financing is possible and he doesn't need a large amount of cash soon. 4 of the 6 units have been recently updated. 

Hello Kyle,When screening applications for the properties that I manage, I always look for:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!

If your considering organizing a capital raise perhaps you should focus on large companies that advertise on the websites to be doing a capital raise with a debt offering.

The income doesn't really cover expenses plus debt service. 

Since the NAR Sitzer-Burnett lawsuit settlement, I expect that innovative brokerages will start offering flat fee buyer services.

I sank every dollar my rentals provided back in to paying off debt and acquiring more properties.