What caught my eye was how timeless your question is - high prices and tight cash flow are still big challenges here.

I've been eyeing land in Central and West Texas, and they occasionally have some interesting opportunities, but some of them seem too good to be true. 

You'll never catch up to market rents at 3% per year.

I've mainly had my eyes on the Northshore area as well Revere, Malden, Saugus, etc. 

Basically, be willing to look at your listing through the eyes of your target avatar.

That kind of networking plus honest cash-flow analysis can open more doors than simply chasing rumored off-market listings.Interestingly, I recently saw a property here in Phoenix (ARMLS #6757476) that sold for around $450K in October 2021, then resold in December 2024 for $1.8 million.. that’s an eye-popping $1.35 million jump in just three years.

Quote from @Chris Olandese: Hi everyone, I’m the latest starry-eyed rental owner in SE Wisconsin, nice to be here!

As a GC I'll still try to negotiate a DP, perhaps only 5-10% (maybe even less depending on contract value) in this arrangement, but it's def not a deal breaker if those terms aren't incorporated into the contract since the largest capital outlay is not part of my scope.

Quote from @Jack Krusinski: When my rental properties are in a situation like this, I make an effort to create a structured and aggressive payment plan to help tenants catch up.

If syndicator is building reserves for the first year of ownership, for instance, and not paying distributions, AND recognizes rental profit, you will have a larger tax bill that year, since you "made money" in the IRS's eyes, even though you did not receive any cashflow from your syndicator.On a more general note, a preferred return does not mean you will get that amount of cash flow each year.