It wouldn’t work in a red hot market like we had a few years ago where everything was selling super fast, but in todays market there isn’t as much urgency to see properties and get offers in immediately.  

From what I've seen in this area right now, it seems like you'd have a hard time paying market LTR rents and making a good spread. 

But it's playing with fire to buy there if STR is a priority as it's very likely they will eventually start enforcing it better.Yes I've seen this same thing in some of the markets we operate in.

Why do you think this will do well when you make it look nice on the open market and disclose it's in a flood zone and flooded in the past year?

. 🎢 Market trends, investing methods, and economic situations are like a rollercoaster—they constantly change and twist.

Ultimately you need to understand the underlying economics, psychographics and demographics of the market you are purchasing in to know if and how you can re-tenant the property.I'm a bigger fan of dollar generals or family dollars that are in multi tenant shopping centers. 

Not the best time of year and we're in an emerging market area about an hour outside of Charlotte, NC.30Y DSCR c/o Refi's have already been done on every eligible property after rehab / 3 months seasoning.As more of our properties come up on 1+ yr of ownership, despite losing likely future appreciation of 25-30%+ annually and paying a 5% PPP, I are open to selling some houses off to start paying off much of the high interest debt accumulated outside of mortgages. 

@Frank Alfano agency debt is very competitive (75-80 ltv, non-recourse, fixed-rate etc); you can syndicate and raise the equity portion needed from friends and family, provided you can market and lead the project.

It sounds like you have a solid, strategic approach, especially with a focus on value-add properties in appreciating markets.

What is the average spread in the market(s) you are in for flips?