The numbers tell me that the likelihood of losing money on this would be quite high, unless you could command above-market rents.

Generally military families (E-7 and above) are great renters as you have the option to call their chain of command if they are giving you trouble and the military already provides a predetermined housing allowance.

I would think Dexter would command closer to $1,000 and Ypsi would be around $700.

We've been eying restaurants, especially QSR's but what we've been finding is that these are commanding a premium (especially if they're corporate tenants, not franchisees) and come with fairly low CAP rates and the ability to negotiate the prices is almost non-existent.

@Jason ClarkeAs a general rule, in NJ, areas with good school districts have lower cash on cash return because they are desirable places for families to live.Less desirable places command a higher Cap rate which translate into high CoC depending on the level of your investment.So a combination of good school district and solid cash on cash return is hard to find, in NJ.

However, Richmond is a market where a high-end renovation can command higher than fair market rental rates.

@Mark WilliamsThe valuation of commercial asset (which your 24 unit building is) is driven by the NOI of the asset, the building class, the cap rate for that asset class in the area where the building is located and thit is very different from the purchase and sale of residential properties for which the value is determined by the price other people paid for similar properties.it is important to look at the P&L statement for the building you are looking to purchase and verify that it accounts for the expenses and income to work out the true NOI.The NOI divided by the cap rate and divided by the number of units would give you the price you should expect to pay.That price per unit will vary depending on the class of asset it is.Class A commands the highest price per unit and the lowest cap rateClass D commands the lowest price per unit and the highest cap rateNot the precise answer you were expecting but hope it helps.

We were paying $1950 for a four bedroom, to give you some perspective on how much you would be able to command in rent. 

Not to mention they won’t (in all likelihood) not want to be on a 20 or 25 year amortization schedule.Usually, I would assume you can owner-finance and then command a higher purchase price, higher interest rate, and still be in 1st position.

"Don't demand respect, command respect.