Three things you do not want to happen are (1) forced to sell below market because you have to be at your internship halfway across the country on July 1 no matter what, or (2) have your ownership of the house influence how you fill out your match list or (3) be forced to live a year or more away from your wife because of the investment.

When one month's vacancy equals -$100/mo in rent, it pays to price units just below market value if they're not renting quick.

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I have seen HUD list the property 5-7K above the county tax appraisal and I've seen them list it 20-22K below as well.

I may be overly conservative, but I always try to look at a range of possibilities, including unexpected runs of below-average vacancy.

I spent a few years in construction (residential) I now also wholesale investment property way below market and flip rental property offering seller financing.

Asking $2,300,000 72 units - 1 bedroom/1 bath - 700 Square Feet - $460 monthly rent8.3 Cap Rate - great for area98% occupancy rate - due to low rents for area49% expense to income ratioFishers, Indiana• Upside Potential due to below market rents and continuation of utility sub metering• Attractive, low maintenance, all-brick exterior• Located in the VERY desirable Redevelopment area.

We've recently found someone interested in selling us their house (it's in pre-foreclosure) at 60% below market value in exchange for some of their equity in cash.

In a nutshell.....First I find homes selling way below market value, then I put up bandit signs in the same area as the home.

.$1050 per month income X 12 months = $12,600 annual Gross Rental IncomeGRM=$40,000/$12,600=3.2If $52,000 is the contract priceGRM=$52,000/$12,600=4.1 (sorry not 4.2)GRM is based on your local market and is determined by comps (comparable sales in the same area).Again a 4.1 GRM is extremely strong and will most likely be lower than your area's comps.