This is expected for the time of the year.Rentals - Months of SupplyAbout 1.6 months of supply for our target rental property profile.

I searched Redfin by random target zip codes, even in those states where median house prices are relatively high, and still was able to find scores of properties listed on MLS for less than $50,000.

If you're targeting a specific market, I suggest connecting with local investors through meetups. 

My goal is to stabilize, refinance within 3-5 years, and offer strong returns to lenders.Your point about targeting SDIRA investors and high earners is interesting—how do you typically find and connect with these types of lenders?

Quote from @Timothy Franklin: @Trevor FinnI would agree with your breakdown, but why overlook a potential to run the 91k subject-to with a targeted 6 month hold for flip or 18 month refinance?

Best advice I would give here in Daytona is to focus on your target client.

Even if you joined a good mentoring program in another location, they will probably tell you to start building a team in your target market, so the end result is the same.Again, I can only speak firsthand of the Sumrok program, but I can tell you that Brad's students are absolutely doing the things you mentioned in your two bullet points.

How much profit you make depends largely on your targeted clientele and your property management. 

I do not target a number I target a lifestyle.

For example the license should not only have a cost but also require at least some compliance training targeting some of the most common issues/complaints.