We put 4.5k into the property to make it appealing to both investors and families alike before listing it on the MLS. 2 offers within 7 days in the "off" season!

The podcasts and website, alike, are filled with awesome material for both new and seasoned investors.Thanks for taking the time to read this and feel free to drop me a line!

We are working with a bank in Murrells Inlet who has offered us two options - secondary market loan in my name, requiring 20% and 6 months of expenses set aside or a portfolio loan, with a likely higher interested rate, for only 20 years, but still requires at least 20%.  

Great minds think alike!

Certainly, as others have mentioned, if unemployment goes way up, to say, 10% like it did in 2009 (I don't think anyone credible thinks that is a likely outcome), then that would be a big risk to home prices because defaults go up, rent ppl are able to pay goes down, etc.

Its like playing with real stocks with fake money. its a great way to practice. first for ARV- be careful using just price/sqft for valuations. it is almost ALWAYS more accurate to use comparable property sale prices rather than their price per sqft. and getting a good idea in your head for why their sale prices are higher or lower than the neighborhood average and sort of adjusting in your head for it. make sure that comparable property has less than a 20% up  or down variation in square foot, that it is a like style house ( ranch comps for a ranch, two story comps for a two story) , Make sure you are only using above sqft and above sqft as comps when you are looking for properties with similar sqft. if your house is a 2000 sqft ranch you will get a lot more for it than a 1000 sqft house with a 1000 sqft basement. this is very important.

Don't get me wrong, during this time frame I've sifted through 100+ wholesaler "deals" and EVERYTHING on the MLS during this time frame which is a good bit of work.It's of my opinion that there are too many toxic gurus pitching get-rich-quick real estate that takes advantage of sellers and buyers alike. 

Other than everyone investing in real estate, there is almost no two people alike.

Great minds think alike.  

Well this is a tricky situation because they're on leases, but if their lease speaks of excessive use or the tenant paying over what's normal I'd think you could get the average utility usage of the 4 tenants and surrounding areas alike and charge them over that.