I just bought a lovely 8 unit last April that had been horribly neglected but have turned it around and done some cosmetic renovations and increased rents.

My recommendation would be to choose potential markets - in several price points - that have strong rental demand and year-over-year rent increases and that also are in markets that are appreciating. 

Target areas with high rental demand, job growth, and population increases to ensure strong occupancy and appreciation.

I've heard of people doing this, but you need to be rehabbing it enough to make it higher value so ideally you need to be purchasing something that needs some rehab so that you can increase the equity because otherwise you're not gonna have enough equity to pull out

Recognize there are challenges doing BRRRRs since the rate increases that have occurred in the last couple years

We decided to do a full rehab to get nearly double the rent ($2900)and increase the ARV to $260k.  

The homeowner collects a NET/NET 5% yield with 1% increases each year in long-term lease by a BBB+ credit rated tenant (similar to Morgan Stanley credit).

Historically, the average days on market (DOM) for rental properties only increases by about 6 days during November and December.

DM us if you'd like more info on the Detroit market - which increased another 20% in 2024!

If land values are increasing significantly, you can back-end load the seller financing for a percentage of the profit when you sell.To add to prior comment, how many septic tanks do you have?