@Saul Clavijo make sure you understand you will be getting into Class C properties at those numbers.Food for though below, DM us to chat more about Detroit:--------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The current use of the property as a two-family dwelling significantly impacts its value and marketability, which is distinct from single-family homes.The initial appraisal comparing your property to single-family homes is likely an oversight, as multifamily properties are evaluated differently due to factors like rental income potential and investor interest.

When cap rates increase you have to have an impact on NOI great enough to overcome the cap rate adjustment plus a profit. 

The location being Las Cruces, New Mexico was yet another sucker punch that has negatively impacted my ability to do much with the property.

That will impact the price you can get. 

@Jewell ArceneauxFrom my experience, focusing on impactful upgrades like kitchens, bathrooms, flooring, and curb appeal yields the best results.

You need to understand that given your situation the asset and operational impact must be absolute minimal, lowest risk exposure possible.

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I fired my pm who got me by purchasing the pm i had hired and lost my 1000s of reviews during covid lock downs (so 2020 and 2021 were covid impacted).  2022 had a down time that affected the year.  2023 and 2024 the entire off season was worse than before covid.  

This will impact lofts.5 - Minimum window size.