I'm also based in California.

And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

Don't put a high list price based on what you want, needs to be based on solds

You can get something that's turnkey or new construction at this price point, and most importantly, there's a strong tenant base ready to rent out these homes.

So, here are the basics based on my market, which is AZ.  

Based on the info in your post, my recommendation would be to turn these assets into well oiled machines and max out their NOI.

I think I’ve covered my bases, but I’d love to connect with others working on similar models or interested in this niche.Looking forward to hearing your thoughts!

Since you’re based in NY, Detroit is just a short flight away, making it feasible to visit and get a feel for the market and the team you’d be working with.That said, I’ve worked with plenty of investors who have never actually visited and still built successful portfolios—it really comes down to having the right boots on the ground.

@Eric L ConryI would base it on your cash flow NEEDS, not wants.

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