Generally a foreclosure is in poor shape and needs repairs to make it anywhere near comps.

Actually the comps say $600k but I don't think I could get that as it will need a new roof soon and there is asbestos siding that is still in good shape, but it is still a liability) I am still in the home until my youngest graduates in three years, but she is the only one left and when she is not with me (50% of the time) I am at what will be our forever home in NH. 

To get quick and dirty numbers you can use 5% vacancy, 10% Maintenance and 8% CapEx... assuming the building is in OK shape. 

The units are in good shape, ready to move in. 

Start by reducing debt, researching Houston market trends, and obtaining pre-approved loans.

Your input will help shape a solution that truly meets the needs of our community. 

I can't renovate with a tenant in the property, especially if they are paying below market rent.I DO find some properties that are in good shape, even tenant occupied that have a low cap rate - or SFR that have a low CAP rate - Should I be considering these properties?

A little about me:I hold a Certified General Appraiser license and have been working in corporate and commercial real estate for over 25 years.My recent focus has been on property investments and appraisal work, including commercial and residential properties, lease-to-own agreements, and broker price opinions (BPOs).I’m always looking for opportunities to expand my portfolio and knowledge in real estate, and I love analyzing market trends and valuations.I’m here to connect with other investors, share insights, and learn from the wealth of knowledge this community offers.

For the remodel I am thinking of extending the main home (which would make it "L" shaped") to incorporate the detached carport and detached bedroom/bathroom.  

By maximizing net operating income now, you are positioning yourself for a stronger refinance when rates drop​.Looking Ahead: The 2026-2027 OpportunityIn my view, 2026-2027 is shaping up to be a critical period for the real estate market.