Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

It's interesting because of the low start up capital and potential for higher returns.

Most of the stuff you can get at Home Depot or Lowes and get it the next day, so no delays once you decide on something. 

@Bonnie Low I was not including debt as I want to know how a cash buyer would look at the deal.

The low purchase price, combined with an established market demand, made this an ideal transaction for a fast turnaround and profitable outcome.

Usually of the home requires major repairs it may require a HML "hard money loan" then you refinance in 6 months on the new ARV.DSCR is also not a great avenue for low loan amounts because all loans under $125K will take a rate hit and the minimums are usually $125k after down payment with some going down to $100K Min.

You might be able to find a lower price point per unit than I’m at but it’s a LOT MORE WORK to have low quality properties as opposed to nicer ones.

Believe it or not there are still a few "old-school" counties but those are few and far between and the volume is low.

We recently relocated to Phoenix last summer and I'm starting to look for recommendations for local credit unions here in Phoenix which are trustworthy, low rates, personal touch, easy/simple to work with, etc. 

I'll see if I can use some of this because I get almost no Airbnb bookings unless I drop price way low.