After talking to my guests and understanding their needs, I shifted my approach.

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)

Since they are responsible for maintaining the relationship with you after the transaction closes, this approach adds an extra layer of confidence and security to your investment.

This straightforward process allows you to verify encumbrances before considering a property investment.Alternatively, engaging a title company can offer a more comprehensive approach to uncovering liens.

I’d love to hear more about how you approach finding these under-$2M properties and what strategies you’re implementing for operations optimization.

While I appreciate that & don't want to push them out, they are well below market rate & the unit is a disgusting mess, approaching hoarder status.

These I have found are real, striving parents, working their butts off to provide the best housing and school system for their children.My ethos in this approach is exactly why we at LaPlante refer to them as Residents, as we consider "Tenant and Landlord" to be dated terms and rife with negative emotion.

Quote from @Michael Florkowski: I really like this approach.

As an investor and realtor I took the opposite approach.

Most stop their analysis at LTC leverage which is a flawed approach.