Anywhere that is high cash flow also means high cap ex and tougher tenant base for the most part so as a new investor, that's not going to be great.

In my experience, most lenders cap at 75% LTV, and even then, it can be tough to pull out enough equity to get meaningful cash at closing.That said, I’ve noticed a lot of investors, myself included, facing cash crunches lately.

Cap Rates in the area.

I initially intended to put down $50,000 to get a sellers concession where they would cover closing costs and a 2-1 buy down (we have to put down 10% or more down for the seller to be allowed to give us that that amount concession, around 5.8% off the purchase price of $484,500, seller concessions are capped at 6% with a 10% or more DP).

The manual entry of numbers has moved to an automated model with accurate ARV, Cap Rates, etc.  

I always say 'I don't care what cap rate I buy at, I care what cap rate I can turn it into'I built Market Analysis and Sales Comps tools for my local SoCal market that will let you analyze the current or terminal property & units, from wherever you get your deals from:Sales Comps & ARV estimate:Sales market analysis:Rental market analysis:Would love to discuss how to make your extension that much better!

I usually have a baseball cap on. 

Some sponsors tried to mitigate the risk with interest rate caps but these can't handle unlimited rate rises, and some found that their strategy blew up on them. 

Hello  @Thomas Sheehan,If your goal is to invest in an apartment where you don't have to concern yourself with maintenance and cap Ex, this deal (or perhaps another with similar rents and lower price) could make sense.The downside to deals like this is that your rents could eventually hit a ceiling as newer apartments (some with more amenities) become available.

I factor in 5% vacancy, 5 % cap ex, and maybe $1600 lawncare and maintenance for all 4 properties.