Also, from what I read in Bloomberg, midterm rentals near major hospitals can sometime command a decent premium.. especially if they include some nice furnishings.Little Tweaks Count: Even minor upgrades, like new door locks or a fresh coat of paint, can help you justify a stronger rent.Driving for Dollars & Networking..

Most often it's in free & clear properties but, in a high enough desire area like these, and with low enough mortgage balance, yup, some can 100% get enough on the sale to have it all make sense because as @Jay Hinrichs has pointed out that in these areas the majority value is in the land not the structures on the land. 

Insurance cost for weather-related disasters is growing to a major concern in many of the southern markets.

There's also a major university there, Ken Griffin just moved Citadel hedge fund down there, and the technology entrepreneurial landscape is opening up as well.

what are some other major red flag questions you might ask?

@Nick WimmelYou can get decent cash flow and demand for rentals is likely to stay strong in the area given the proximity to major job centers in Cincinnati and Dayton

It could include selling well below market value, giving a majority interest to your partner (like 51%).

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Auction.com for some 66% or so of the preforeclosures in your area, other trustee's run other auctions, but auction.com has sucked up the majority of the business nationwide.   

Our market is stable with strong job growth from major employers moving and developing here like Meta, Intel, Amazon, etc.