I am hoping this number is extremely conservative given that our contractors, inspector, and realtor walked it as well. 

Target ReturnsWhile target returns are crucial, these should be discussed only with investors—not brokers or others helping you find deals.Sample Investment CriteriaHere’s an example of well-defined CCC:Location: Primary and secondary cities in the Southeast with population growth.Type & Class: Class C garden-style or walk-up workforce housing with repositioning opportunities.Age: 1980s construction or newer (case-by-case for older).Price: $5M–$12M, requiring $1.5M–$3M in funds.Size: 100+ units.Cap Rates: Market rates.Roof Type: Pitched roofs preferred.Value-Add: Opportunities for improvements or better management.Why This MattersBy creating crystal clear criteria, you:Avoid wasting time on deals that don’t align with your goals.Build trust with brokers and partners by demonstrating a focused investment strategy.Increase your chances of finding deals that meet your financial and operational objectives.I'll be posting each chapter as I go through them so you can follow along from my notes and we can discuss different strategies.

As an out of state investor, am looking to work with wholesalers, agent or bird dog who can walk the ground .

Please feel free to message me if you want to walk through some logistics. 

My client bought a 22 unit building and used this strategy and walked out of closing with a check for $800k to perform the rest of the renovations, paid himself back his already expended rehab costs and his entire down payment.  

You have to walk these properties, understand where the hidden costs are outside of the spreadsheets, and understand the geographic appreciation trend and migration and population as well, none of which will be in the questions you are asking. 

Quote from @Gregory Chadwell: I've sold properties to out of state buyers using facetime and walking through and discussing the property pro's and con's.   

I actually have a webinar i put on a couple of years ago walking through all the pitfalls and mistakes I made doing 482 BRRRs between 2009-2018 in Chicago. 

You want prospective tenants to come see it, walk it, imagine living there so don't get in the weeds on the details or offer photos that aren't great. 

He also requested a walk through for later in June.