The area that you are referring to is located near Bonnelle Drive and Twickingham village.

Also ask about overdue maintenance if the person showing you the home has that knowledge.Once you know the ARV (make sure this is as solid as possible), you can calculate MAO as:ARV  x  [65% or 70% (depending on several factors)]  -  Repair Costs  =  MOADig around BP for blog posts on the topic.

I’m just trying to figure out my personal investment philosophy and how that factors...

With direct mail, you can either do whats called driving for dollars and drive around your neighborhood and make of list of properties that look like their in need of repair, then send them a letter (or knock on the door) asking if they might be interested in selling.

Recently, I really enjoyed Crushing It, Miracle Morning, Four Hour Work Week, Drive, and Subtle Art of Not Giving a F*ck.

Unfortunately it's not that easy, IRR is discount rate that makes the net present value (NPV) of all cash flows from your deal equal to zero.I would only use it in a situation where you are looking at two deals and all other factors are the same (which is almost never the case).Or if you are looking at deals with a IRR of 15% to 20% and you run across a deal that says they are estimating a 10% IRR then that's not going to work and you can eliminate it.

It's clear that the Feds relentless drive towards higher interest rates are not having any effect on demand on Massachusetts market.

Factor in the above because every dollar counts.

You don't have vacancy, repairs, CapEx or Prop Management factored into your numbers and you don't mention the overall condition of the property.

Think of it like a car, would you pay more for the EXACT car you wanted in stock and drive it back?