Depending on the number of jobs and number of new development going on in the area it may just be simple supply and demand.

I personally like to buy in towns/neighborhoods in which no new builds are possible within 10 miles because all the land is developed.

Thanks as always.RL Local PM here, we develop and have a wide portfolio, happy to model a cashflow analysis and if possible, find ways to increase your properties income.

As others have said, the best thing your son can do is run far from this deal, buckle down, save his pennies (he probably already is doing this), house-hack, and improve a property with sweat, hard work, developing a DIY skillset, and self-managing tenants. 

There is so much growth here - population growth, job growth, and companies moving and developing here.

They are developing along the river so a lot of upside here (look up hazelwood green).

Hi Mark, I am a founder of a startup helping RV park developers source land.

Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.

We’re developers managing our own portfolio and don’t have any outside investors.

After analyzing hundreds or even thousands of deals, you develop an intuitive understanding of not just the numbers but their sensitivity.