I'd be happy to send over some rough pricing for you to see what your sceanrio would look like.

The median price is the difference between B and C.Here is what that looks like for my Market Milwaukee County (which includes the city of MKE)Median Home price August 2024: $267,422this gives you roughly the following:class A: 500 and upclass B: 267 to 500class C: 134 to 267class D: under 134Investing around the median price (either C+ or B-) is always a solid choice.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I've seen several other lenders reply in this chain, including myself, who could all provide you with rough term scenarios, but first I'd talk with your current broker and lender to see where the real issues stemmed from.

South Bend has been on a downward trend and has some very rough neighborhoods.

I will be updating them as I go along but it's just a rough idea of how the property cash flows

Either negotiate a good price or only pick upgrades that's necessary in the rough phase and do the upgrades with your own subcontractor/vendors after the house closes (kitchen upgrades, appliances, countertop upgrades, flooring upgrades, landscaping upgrades you can get them much cheaper without going through the builder).New construction is a winner if all things are the same. 

It's a tough market right now, this thread is to encourage those who might be going through a rough time in their business.

Man, this thread is a rough one.

My own feeling is it will not do well but I am basing this solely on you describing it as a rough area and never having heard of a successful MTR in a rough area.- I suspect you will be a little surprised at what MTR PMs charge.