@Mike Dymskijust to clarify i am talking about a low income are, class c or maybe its even a class D in my opinion 90% of the people in such areas do not have savings the reason why i would consider the lady with less than 2 times the rent.Frst of all she has all the money ready and seems to be very responsible, i have rented to numerous tenants in the past so i can tell even such a small thing like filling in every small detail in the application {my application has a lot of questions some that most see as irrelevant}. she also has an old car unlike most that buy or lease newer cars just shows how responsible she is, and she seems to be very nice {dont jump on me, i know exactly how it can turn in to lol} AND she has an excellent credit history and that says a lot!!!

Typically you need to own the property for 6 months before you can refinance not 3 months and ARVs on C or D class properties can often come up way short of what is anticipated.

I think some of the folks in Maine are making a bet on appreciation.

I manage properties in Milwaukee and to answer the question about A/C, I have not seen that dramatic of a price difference between central a/c or not.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

I started my LLC in 2019 with no experience in real estate (except buying my own house) and purchased a 32 unit apartment complex. W...

If you have researched this market or have purchased in it, can you provide a list of neighborhoods you recommend looking at and also let us know "C" or "D" neighborhoods you would recommend against.

Is this a A B C or D neighborhood?

My feeling is that you take the cash flow in the first couple of years and put it into cash reserves for any maintenance issues or if mechanicals breakdown, then I can use the cash reserves to pay for things like a new A/C or appliances.

I'd also bet on more appreciation anywhere in Philly vs South Jersey.

This is what actually Is costs you to get your equity, you are paying every month out of pocket.look your property looks good if all 4 units where rented your analysis that it will appreciate with out doing any value add is a bet on appreciation and rent increases year over year is a huge gamble and only pays off when you sell and if you sell at that price at the right time.