We weren't sophisticated enough to call it that, but we were both on board because I liked the potential upside and my wife loved the neighborhood (that we could not have afforded to get into unless we bought a dump of a house).

Especially now, I am seeing a lot of people who bought during or right after the COVID pandemic and are in situations where they simply cannot sell their homes for any profit (many of them bought as new construction).

I know of two different students who each bought an apartment complex in the Phoenix area in the last year or so.

I did all of the work myself and know the ARV's in the area pretty well so that helped. this is like my 8th deal and I analyzed deals for like 3 years before I bought my first property so that has gotten way easier.

So he bought up several owner financed properties that offered 0% down, and he cash flowed. 

When they need the money, we know this property will appraise for 40% more than we bought it for.

I bought it as my primary residence but no longer live in it. 

All the people I know who bought there did it for lifestyle.

It was the same price as the 1st property I bought except twice the size and two of everything.

I bought a house 3 years ago with $420K and after 3 years the value on Redfin is about $460K so the appreciation is about $40K.