But not necessarily purchased below market value”market value”.Look, some of the “best” (most profitable) property I bought were purchased at market price - value, because the market didn’t recognize the value I was able to see, or didn’t have the information I had.  

Finding great off-market deals can feel like a needle-in-a-haystack challenge.

Similar to what Patrick stated - most have ITINs and have seen a lot of loans like that and those are sold many times on secondary market. if not I know people who still originate I would say they are tougher to sell on secondary market but there are still buyersRe: jay comment - price of notes has doubled over past five years on many loans - especially defaulted or loans with some hair too them. 

We have a clause in our lease that plumbing clogs not caused by mechanical/material defects in the plumbing will be charged to the tenant, and if your lease doesn't have similar I would recommend such a clause.

While @Phillip Austin mentioned Raleigh is a higher returns its just very much a appreciation market, you will not find rentals that cashflow, so depending on your goals its a good or bad market.

What kind of market are you on?

Do you know the other markets well? 

Send me a PM and I'll send you a couple of examples of what is on the market outside of Atlanta so you can run your numbers and see if that fits.

I have been in the STR market for the last 13 years.

More great news, our market just keeps on delivering.