First, estimate what the renovation would cost, how long it would take, and how much extra you could potentially sell the property for once it’s fixed up.

When you are looking at estimated provided by the seller take them with a healthy grain of salt.

Finally… do not assume that “Your” real estate agent is working for your best interest… unless… BOTH of the following are satisfied… 1) the agent Signs a “Buyers Agent” contract where it is stated that YOUR interests comes firstAND… 2) the agent / your buyers agent has no affiliation with any other party nor has any financial interest in this transaction other than as stated in the docs… and has no association with any party in the transaction… other than as stated in the disc… you explain up front that any all buying agreements are not binding until after you have AT LEAST a Preliminary Good Faith Estimate/ HUD1/  enhanced financial disclosure… and that ALL parties/ entities and all fees are clearly disclosed.

i have seen that quadplex on the market for a while and yea it is definitely more than i would like to tackle right now but i think i could possibly make that SF work thank you for the recommendations  @Anthony Benoit For what it's worth, I'd estimate you'd need to negotiate the purchase price on that SF down a bit to make the numbers work in that area (BRRR or F/F).

If I did set out to invest in the local area, I would scrutinize the numbers like crazy and be extremely conservative with my estimates.

Hi everyone,
I’m looking to buy an apartment/condominium in the DFW area. I’m not from the US and currently live in Europe most of the time.

I’ve found some apartments that could work well for my needs—I plan to r...

To get the same numbers for the LT rental, I'm estimating the rents would need to be at least $2,800/mo.

I use 10% for maintenance & cap ex, 8% for vacancy (but not on STR because the estimate from Airdna includes vacancy), 10% for management.

.: A) I had to fact check this after your last statement about the CA population declining ended up being false due to only accounting for our-migration and not including immigration,B) The actual estimate is that less than 25% of the nations homeless people live in California, not 51%.A) Immigration by foreign individuals is not counted (generally) because it is not a definitive marker.

That said I like to be able to run year end reports with an estimation of tax liability so I can provide financial statement information to investors/etc.