@James Landsford That punch list is a lot of work that won't necessarily help with you increasing rents over time.

Maybe there's an angle for seller financing or some other creative approach to get the seller the total return they want over time, but it's hard to say without actual facts and data.

In the next 5 years, we have 2 twin span international bridge projects, a new hospital, and the expansions of the university and college.

Tenant gets their deposit back when their lease is officially/legally over.

We have been very blessed to have a large network of private lenders that we have built over time.

What is more important to you @Nithin Kumar...the cash flow, or the appreciation?

Thanks in advance,RookieOf the areas you mentioned, Id put Germantown at the top of the list.

Most lending is based on cashflow, not the 2% rule (although still a good rule of thumb for some types of investments), might have the most help from the group if you provided some of those details here just so it'd be easier for us to help you best. 

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

My retirement system doesn't allow for me to roll anything over given that I'm still employed with the company and also under 59.5 years old.