He is older and does not have a mortgage and there is a lot of deferred maintenance on the property.

The unit SF is one component of its size, but then we will sometimes add exclusive use common areas  as well as a pro-rated allocation of the common area.

Verifying last 2 years of rental history very important!

This seems to follow the general overall trend of lower cost areas winning at the expense of those with a high costs of living.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Bought undervalued (market value of 265k); refinanced about 1 year later to contribute to next property purchase.

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

There are lots of benefits that come with a closed system than the downside of editing stages. 

Whether you’re just starting out or you’re a seasoned investor, BiggerPockets has a ton of resources to help you along the way.

@Von Wilson theres a lot here to unpack.Are you saying that there is a parcel of land next to where your business is that is under construction and is impacting your business?