The cap rate around 8.5% (when the local average is 7-9%), I think this price point potentially strengthens the property’s cash flow appeal.All units are rented on 12-month leases, and the seller reported annual expenses around $22,075.

My goals would be to increase monthly cash flow and have more access to the property's equity for things like Cap Ex, etc....Here's a blurb from a lender's website:"By combining banking functionality with home financing into one dynamic instrument, borrowers are able to save tens of thousands of dollars and years off their loan""Designed after popular programs around the world, the All In One First Lien HELOC is the nation’s first transactional offset type-mortgage program.Home financing and banking combined:Deposits lower your loan’s principalFunds remain available for expensesInterest is calculated on the average daily balanceThis lowers the monthly interest paymentsTens of thousands of dollars can be saved over the life of the loanMortgage freedom can be achieved in half the time or less

I spent about 8 hours capping and removing water and sewer lines and putting a couple of doors back in and some plugs in the wood floor and suddenly I had a 3br house.

Your questions are fine, but I would be more worried about the asset and the future cap ex than the renters in general.

Cap rates are not all equal which many people do not understand.If I buy a Sam's club in Riverdale for 8 million at a 7 cap in no way is that worth the same as a Sam's club in Buckhead GA for 12 million at a 7 cap.

page=LoadVirtualDoc&BookmarkID=6536) that capped annual increases to the Taxable Value of a property to the lower of 5% or Michigan's Cost of Living increase.

This is the 7th storage facility I have purchased - new construction at a 9 cap purchase.

From page 730 (emphasis mine): "All non-business tax deductions and exemptions that were temporarily suspended by the 2017 tax bill should be permanently repealed, including the bicyclecommuting expense exclusion, non-military moving expense deductions, and the miscellaneous itemized deductions.23 The individual state and local tax deduction, which was temporarily capped at $10,000, should be fully repealed.

Cap rates are at 5-6% on a stabilized SFR with a long term rental strategy.Only strategy I am seeing pencil right now are with a rent by the room / co-living strategy .Flips in some areas kind of make sense where you're all in for around 80% and can make a spread.I'd suggest evaulating different strategies or markets, else you may burn yourself out - this is learned from experience :)Shoot me a pm if you'd like to chat - I'd be happy to chat and help save you some time.

There is an alternative that involves doing cost segregation on property you purchase and using this to help offset cap gains resulting from failed 1031 Exchange.