Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Hey Romeo, I would build up some cash flow and try to find some partners in your network that have the funds to get started in RE but are hesitant since they never purchased anything yet.

Should I keep looking, or try to work with the more experienced ones, or sign with the newer realtor?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I don’t know what’s going on of course, but I can offer the possibility that the seller tried to negotiate the bill down and the contractor realized he was being squeezed so he took action.  

I am trying to build a database of local rehab costs.

If you try to go over the whole list, you’ll lose the attention of an average person and they won’t remember anything!

Just trying to illustrate that even after you build the building and deliver a shell, theres a good chance many of the users you are going after are going to ask for TIA and help with buildout to some extent.  

Try meetup.com or google your local real estate investing groups.

I’ve been around real estate for decades, and I read in The Economist once that in lively markets like Charlotte, folks will pay a premium for a comfortable room if you’re near major employers.A friend of mine tried something similar out in Austin a while back.. he’d inherited a 4-bedroom property and split it into individual room rentals.