It's a combo of low housing supply, higher interest rates vs. seller expectation, and a poor economic outlook for the country.As an investor with a few rentals it's like like the parking brake is stuck on.

Incredibly poor business deal. 

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

The property was on market for a long time due to poor listing pricing with previous agents and the seller being out of state.

Purchase price: $86,000 Cash invested: $2,500 After being done with Rich Dad, Poor Dad, several podcasts (including bigger pockets), and other resources we were desperate to take action.

Its a very poor situation for the original owner to be on the mortgage for years and years without the benefits of ownership and the control.  

Also, if the property doesn’t cash flow or cash flows poorly as your summary indicates, coming up with a creative financing strategy that allows for greater cash flow doesn’t necessarily make it a good purchase or investment.

Cold calling is already such a poor-performing strategy. the ONE thing good about cold calling is that you are talking to a HUMAN, building rapport, and asking and answering questions.Now that ONE good thing about it is taken away...Like David above me, no experience, and it would indeed be interesting to see how it does, but that doesn't take away from what I mentioned above.

This was a poorly timed purchase at full retail so it likely is worse than virtually every other San Diego RE investor’s monthly appreciation.