These deals can be profitable in growing markets with strong cash flow and equity growth, but success depends on the builder’s execution, local market conditions, and your ability to refinance effectively.

Most of our out of state investors in Pittsburgh find success depending on their expectations.

This is to get your tax deduction at a higher tax rate.  

Rents continue to climb as well but likely not enough to keep up with increasing monthly mortgage payments when considering interest rates and soaring property values.There are 2 main schools of thought when considering investing in an expensive market like Long Island.- Robert Kiyosaki, Grant Cardone, and similar thinkers believe its best to invest in markets with higher cashflow while renting where you want to live.

Elite’s rates are a little higher but they sound MUCH more flexible.

@Jim LynchSome typical minimum tenant screening requirements look like the following, but it depends on your market:-Renter has a gross monthly income of 3x more than the monthly rent-Minimum credit score of 650-Renter must have no prior evictions-No felons (or other notable criminal history)There are a number of different tenant screening softwares out there such as Zillow Rental Manager, TransUnion SmartMove, etc.Be sure to complete an employment verification by contacting the renter's employer and confirm the details they shared with you, landlord verification (if they have a previous landlord), credit check, and background check.

The market has shifted a lot in the last two years with rising interest rates, changing rental demand, and shifting economic conditions.

While a western WA deal might not meet some Midwest cf metric like 1%, it will be above the market cap rate or below FMV of comparibles and give you options. 

However, after renovations, the numbers improve significantly, and the challenge lies in bridging the gap between current and future performance.Expenses typically run at a 30-50% expense ratio for mobile home parks, depending on management and infrastructure conditions.

My basic underwriting making some standard assumptions on HOA expenses, 20% down, 7% interest rate, 30 year mortgage, utilities, supplies, and maintenance costs shows a loss of about $22k per year if you are self managing.