Also there are no Fannie/Freddie, set add on that I know of.

Find a distress home...not a junker....and by at 50% of FMV or skip it.Then put in about 25% for f ix up and carrying costs....buy it....paint front of house and mow lawn and put up a 1.00 for sale by owner sign and sell to neighbors.No bad roofs, bad basements, bad furnaces....simple fix stuff like paint, carpet, cleaning and yard work.If you buy that rental and sit on it waiting for a renter....that is cash money out of your pocket that you will never get back...then a bad renter who doesn't pay or pays late is horrible...you have to pay his unpaid bill every month on the first...bummer.Buy fix up small problems only and sell fast...add on about $10K to -$25 and dump it fast.Put profit in pocket and do it again.

If you have not already, maybe putting an add on craigslist and facebook marketplace would be a good start.

If I find comps for ARV that are, say, 30% higher than my purchase and I am also able to raise rents by 30% after renovations, is the bank going to say "You've created a 60% value add on this property?"

I would tell him he must form a partnership between him and the other cash investors he has, and that new partnership becomes the partner in the next deal(s).Don't add on any partners with split roles.  

It makes sense, because loan officers can have a loan "blow up" if there are add-on fees that make the borrower mistrust them.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

The home seems to be mix matched with what looks like a brick home with a chimney, but then was stopped about half way to add on a normal home.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Instead of saying "we're looking for 20+ unit properties in Atlanta" say "we're looking to acquire 10 - 30 unit class C properties with light value add on the West side of town" - Find and focus on a broker that specializes in what you're looking to purchase.