It also requires gaining a level of sophistication and knowledge that not everyone has the time, inclination or ability to do.

There's a lot of suckers who attend these sales, particularly for the lower priced properties and that's precisely who you don't want to be bidding against.

This conversion will begin at the end of the month.I am just sharing the above to give context to my level of experience with this type of investment.I look forward to hearing from you all.

These neighborhoods seem to fit my goals, especially with their lower crime rates and potential for growth.Do you think these are solid options, or would you recommend other neighborhoods in the Philadelphia area based on the price range and focus on appreciation?

I see this home and what you paid and while it's not at all a bad price, I've seen investors offering that size in Palm Bay for as much as $15-25k lower.

As it relates to habitation exposures, it appears that there may be a leveling off in premiums, rates, and deductibles here recently, but there's so many different variables that it's really hard to make a blanket prediction for 2025 (or the future). 

The negatives are that rents are might be lower than market rates and definitely than Airbnb rentals.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The "land basis" cannot be depreciated, so your depreciable portion will be lower than $350k.We typically consider $1 million in building basis as a rule of thumb where it makes sense to evaluate the potential benefits.

For $10K and a lower rate I'd be willing to consider delaying...but only if I knew that lender two was solid on closing in a relatively short timeframe.