Experience is the best underwriting tool.

They were selling on pro forma, but the market and the debt market have shifted, and it's aa lot harder to achieve higher pricing with lower rents.We've purchased over 2,000 units, and the simple answer to the question is that they are either mom and pops and run their businesses with ZERO KPIs, they do not want to risk losing tenants if they raise rents, and they don't treat their asset as a business.When you take over, it can be difficult to get rents to market if they are very suppressed.

Quote from @Elam Fisher Jr: Anyone have experience with mid term rentals in Baltimore city?  

Quote from @Mary Holland: I'd love to hear about your experiences and how they compare to other types of commercial real estate financing.

It's not some MLM, pyramid type gig you can just experiment with attempting to make quick or easy money.

I'm really looking forward to your blog and hearing about your experiences in these markets.

Has anyone else had similar experiences with BTRs?

I will say no from a renter's experience. 

Thanks in advance for sharing your experiences.

What’s required for success in this is deep knowledge of real estate in general and the area in particular; experience in real estate and the local laws, etc.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.