70% rule is so 2009   not relevant in todays market place in any market that has intense competition. there simply is not enough houses to feed all those that are taking class's on how to wholesale  read BP and want to wholesale and or how ever they decide they want to wholesale.. its dog eat dog out there.I find also if your competing against those that do a lot of their own work.. some of my best borrowers were contractors themselves.. if they could buy a property get their normal profit for all the work they did to the house plus a bonus.. great deal for them.. virtually impossible for investor to compete.. only thing that keeps investors in the game is so many contractors simply cant do deals for a number of reasons.. but the ones that are sharp they are killing it.

In a C/D class area management is very intensive and must be something you stay on top of at all times.

Hi@Mauricio Botero,How are you. welcome to BP.Cedar Park as well has Squirrel Park and Walnut Hill are neighborhoods on the cusp of intense development of University City.

Their application process was pretty intense. 

This could be from allowing them to overpay or letting them get involved with a management intensive property or specific rental market they have no business being in.

And these properties aren't in 'resort areas', you understand.But just last year there was a local low-income LL who passed away owning boucoup 'management intensive' properties that neither his wife nor sons wanted.

I suspect that the apartment complexes for sale with a 14 cap are the ones with deferred maintenance issues, in low income areas, with little appreciation potential, high turnover, high eviction, and plenty of intense management "opportunities".

Then pick A.Do you like having so-so returns and a good chance of appreciation, then pick B.But, if you like GREAT returns, in exchange for more intensive management, going by to pick up your rent, don't mind explaining to your bank about all the cash you're putting into your account, and don't mind learning to speak Spanish.

To say it simple: INTENSE peer pressure.

I think it is just a mass mailer that is being sent out that happened to be around the Holiday weekend.I think it is amazing what people expect for property management but this company is asking for it by being in that kind of business.It's a low pay,big headache,high volume kind of business just to get by.Many are jumping into it to meet demand but will be really surprised to see how hard you have to work for so little.I would give them until Monday and then look for someone else.I can tell you from owning apartment buildings that even with a property manager living on site with age of the buildings it is very intensive in the beginning especially on value add deals.