I'm interested to see if this will spread to more markets in your area, or into different states! 

There are other areas spread around like the garden district, Cloverdale and directly south (36111).

If the spread was larger then the amount of time involved might be worth it.It's always time versus return, risk to capital, and how hard you have to work for it.        

This will allow you to spread out the costs of the renos and minimize the vacancies.

Year-over-year, asking rents have increased by 0.4% from Q1 2023.The spread between asking and effective rents has narrowed slightly over the past year, suggesting landlords are offering fewer concessions as the market stabilizes.

But if they have enough volume to spread out that risk with tighter underwriting guidelines, maybe that could be ok.But I suppose in reality, most doing those LTVs are also loose on the underwriting guidelines.

Our commercial loan is based on the 5 year continuous maturity treasury note plus a spread of 2.25%.  

Atlanta has a high entry point and the antiquated houses that will make for those great investments with the 150K+ deal spreads are largely controlled by the wholesalers. 

Do you need to stack or spread pine needles where the tents will be set for cushioning and insulation from the cold earth beneath?  

Instead I just invest a little time and spread it across multiple vintage years.