Account Closed Yeah the challenge I am facing is almost every property I have found is either way overpriced to be profitable, priced reasonably but in a high HOA area that eats the profits, or cheap but not in an area that can draw the rent (or tenant type) I am looking for.

Even managing a property three hours away can be challenging.

I'd like to call the water company to come out and repair it, and use that opportunity to find out any further information- only challenge is, whether they will agree, considering I am not the owner at this point. 

Just curious if anyone had any other unique suggestions.

Raising rents down the road could also be a challenge.

Follow up once you know the situation with PMI on your current loan. also provide a timeframe where you think the loan will be paid down enough to get to 25% of appraisal or that you can challenge PMI to be removed.

Clearly there are some legal alternatives to leveraging unique relationships before having a license on the wall. 

AFTER the tax sale, the prior owner must go through a myriad of procedures to challenge it and they must have a legitimate reason to do so (like they actually paid all the taxes before the sale but the sale accidentally still went on, the sale was improper, etc). 

I don't think the midwest will ever get anywhere close to these prices, but puts prices in a different perspective.I would like to hear someone challenge my thoughts here, what am I not seeing?

Keep in mind that the cap rate will always be determined by the sales price so unless one is taking that into consideration while running numbers, it can be challenging to give an accurate cap rate for a given area or type of property.