Either it's really, really run down, or you are estimating finishes that are too nice for the area.

Nice work  keep it up.. love it when you actually buy and a principal and sell as a principal.it only gets better.I don't know what my record is.. but if you do this game long enough you will get some whoppers..

Nice people by that age, too, and very reliable. 

Going to purchase more and now stuck fixing up the older ones because really didnt do them right and tight in the beginning so half way through this business ive decided to start doing everything really nice and right and tight.

Always nice to have another Ohioan on here!

We have very nice rentals but we bought a slum mid last year.

I had so many people calling in those years HELP my apartment loan will not renew what do I do its a great property and its current.Now most of the folks on BP are new and started after 08 and that's great for them .. and I am not predicting this in any manner.. and many have nice 30 year fixed.. but those that buy on 20 due and 5 there is real risk as remote as it is.. just because a bank rolls one 5 year over does not mean for a minute they will roll the next.. then you had a Hedge fund like Rialto buying all this bad paper and just stomping on these owners.. people I knew were forced into bankruptcy  Rialto would not deal .. and to make matters worse that company got 5 B of tarp money.. so our tax payer dollars was creating this huge win for these guys.. it was ugly.. but its all good now..

But considering how diverse that area is, I'm guessing there isn't a typically Cap Rate. 

About a year later and Duplex that I bought at Foreclosure has been rented out to two sisters both with children and is cash flowing nicely the sfh that i bought from the landbank in Louisville is done and also rented out, also bought another property and working on buying my 4th house in Louisville hopefully closing this next week.

There's a nice restaurant/bar called Houligan's on International Speedway Blvd. 1725 W International Speedway Blvd, Daytona Beach, FL 32114.