Location proximity with nearby retail that is popular and fits with your investment, amenities within walking distance,population and job growth, access during peak traffic times, within 1 mile of a highway, plenty of parking on site ability to add value, the demand of the occupants in that area, and positive cash flow if you are looking for rentals with no guessing, and on-site amenities that are popular, trees and exterior landscaping. exterior looks,  go by actual income and costs instead of pro forma, pay attention to your gut feelings when you drive by, and first impression.

I should still be good to recoup my cash within 10 years (my other deals I shot for 5 years, but have not been purchasing much lately, simply not finding good deals in my area).Bought the land off market, cold call :), and is with 1/4 mile of my other 60 units.

I bought a 15 yr old minivan, clean and in great shape, loaded, with $105k miles for $1800 on CL a few weeks ago.

He even converted the dining rooms to add another bedroom.My wife and I want to use that strategy and buy a 4BDR home half a mile from a major University in Orlando.

That being said though, she is not the most motivated... and why should she be wasting time with me on cash deals at $100k when she can sell  nicer 300k homes 5 miles east or west?

It's a mile away from this 8-plex in a slightly better area with what should be higher quality tenants.  

In fact last month I had someone call off a sign at one property I was just starting on, and they ended up buying another property I had ready a few miles away that they hadn't seen.I've also had a property I was getting ready to start rehabbing, and the day I posted the sign in the yard, another investor called, and I ended up selling it to them without rehabbing. 

Closest convenient store is 20 miles away. 

What you can do is have an agent Compu out rentals within a mile radius to see what it would be to rent out.

The city is Shelbyville and closest Metro is Louisville/Jefferson County which seems to be pushing out into Shelby County.The sample size is small, given the population 30,000 for the 40065 and projected pop of 33,500 in 5 years.n Less than 4 miles to the Interstate (I-64 in between Louisville and Lexington) and less than 3 miles from "downtown area" which again given the pop, is not exactly a bustling center of progress, though it is being revitalized.