Its easy to say that an older property cashflows better when you look at a spreadsheet.

Most lay people have zero idea how to get through a transaction.

A total cost of 6.3Mn over 23 units equates to 274K/unit...this appears unbelievably low for San Diego...I'd want to see full development budget detailing hard, soft and financing costs as well as month by month projections showing construction and lease up cash flows.What's the 2.2Mn purchase price for?

Purchase price: $76,000 Cash invested: $25,000 Bought a foreclosure to fix and rent.

Has the agent spoken to the builders in the area who may need lots?

And it doesn't always match up to half the mortgage since the mortgage has nothing to do with rental rates.

Step outside to the fenced backyard or relax on the swing on the front porch.

It's always a tough call on whether to just do a day trip or pay for a rental as the costs of a nice rental can add up quickly.The TL/DR (which I'll expand on) is that we ended up changing to a strategy of letting others help pay for a cabin that we know we'll love.

If they do not qualify because of poor credit or income issues compared to being self employed etc there are differences - but typically people don’t qualify due to poor credit and people will seller finance to these borrowers thinking they woke up at a holiday inn and got a finance degree when in reality they repeat their past mistakesRemember the definition of insanity is doing the same thing over and over again expecting a different result

It is solid to look at deals that are off-market and know that the ability to buy it at a price and either hold it or sell it will be coming with less competition on the purchase and more upside.