I stumbled upon BP while doing some REI homework on YouTube and I've been hooked!   

And I've found that the folks who reach out to me after lurking my profile and doing homework, etc, tend to have great credit/income/assets/motivation - which makes it even better.

@David Salfer, here is your homework question for today: why is it that specifically in Washington, Wholesalers should NEVER arrange to double-close their Contracts, but rather, should ALWAYS try to make sure that their Purchase Contracts are ASSIGNABLE, and subsequently, are duly assigned to their end-Buyer?

I'm sure a few people would love to chime in and do the math for you ;)You'll want to know your NOI and cap rate as a general idea of how good a deal it is.

There are some other sites that provide that type of information as well.Beyond that, you'll need to have a bit more information as to the area and the regulations on STR, etc.While it is a different model than taking a standard renter, I think you'll find that if you do your homework and set up good systems for its operation, it can well be worth the extra legwork.Are you local to the property?

Do the math what will make you money? 

@Mike HenkelCongrats on your successWhen you mention student housing, did you buy the types of houses that kids are partying in heavy or the "better" kids that are doing there homework instead of getting into trouble?

Just be sure to really do your homework if you plan on using condos as part of a buy-and-hold strategy.

Here is my current situation:Behind Door # 1 is a local Triplex with the following stats:Purchase price $215KImprovements $15KTotal rents (after improvements) $2475/moGRM 94.1Cap Rate 7.5%ROI w/o appreciation 11.84%Cash on Cash 9.5%Behind Door # 2 are 3 SFH located in Memphis, TN through a turnkey service:Total Purchase price $249KImprovements $0 (all improvements are part of the turkey service)Total rents $2800GRM 88.8Cap Rate 8%ROI w/o appreciation 13%Cash on Cash 10.5%I know all the math nerds are going to ask specifics about expense assumptions.  

While doing the math, start with your agent giving, say, 1% to their broker - the broker is the one taking the legal risk.Then assume the total buyers commission is 2% or 2.5% on that $1M house - that's more typical here.Now, think about how much experience you want helping you with your purchase - someone who's closed 500 deals in your area probably brings a tad more to the table (and won't work under your proposed structure) than someone who hasn't specialized and is new.IMHO, your mindset isn't worth it on the buyers side.