The large drops in vacancy rates in these metro areas indicates a potential for more multi-family investments also if vacancy rates keep falling in the coming months: Birmingham-Hoover, AL (12.3%), San Antonio-New Braunfels, TX (7.2%), Pittsburgh, PA (6.7%), and Kansas City, MO-KS (7.3%).Vacancy rates are nearing or around 7 percent and are higher compared to one year ago in several “hot” metro areas, indicating a maturing of the investment cycle in these markets given the current level of demand: Dallas-Fort Worth-Arlington, TX (7.1%), Austin-Round Rock, TX (7.1%), Miami-Fort Lauderdale-West Palm Beach, FL (7.1%), Washington-Arlington-Alexandria, DC-MD-VA-WV (6.7%), and Raleigh, NC (7.3%).Vacancy rates are above 10 percent in these areas and were higher compared to the levels on year ago, indicating low potential for multi-family investment given the current pace of demand: Albany-Schenectady-Troy (10.3%), Greensboro-High Point, NC (10.5%), Tulsa, OK (8.1%), Little Rock-North Little Rock-Conway, AR (11.5%), Toledo, OH (12.6%), Dayton, OH (12.7%) and Oklahoma City (13.1%).

I suspect in those areas C - meaning its really D  you just find existing homes and buy those why go through all the brain drain and the risk of rehab.. your not going to save that much.. and if you leverage the savings might amount to 25 to 50 bucks a month in a mortgage payment your tenant is paying anyway.. you want to risk all that to do major rehab ?

For the others that commented i would appreciate your feedback on the following:Let’s say some motivated young buck approaches me and wants to buy my 3 flat because I own it outright and he tells me that by OF I can avoid paying the tax on capital gains.

@Margaret Johnson I was figuring that I would have a cash flow of 500 to 1000 bucks living rent free witch doesn’t sound bad considering I pay 1300 now for our apartment.

@Juan Mendoza, @Justin Merod, @Steven Gillmer, @Travis Buck, @Justin Markland, @Ian Walsh, @Scott Marshall So...supposed to close today.  

We're home to a diverse population (culturally, financially) and we don't want our neighbors priced out because you out of state developers want to make a quick buck.

Seems like an insane risk, but my family, who is extremely wary of getting into debt (wouldn't even let me borrow 10 bucks for a Bionicle set if I didn't have the money) seeded this idea, along with some other very level-headed and experienced family friends.

My question is this...When rehabing a house, is there any way of knowing what materials will give you the most bang for your buck.

It’s only a few bucks but it does take careful prep and some time to cure. 2.

It blows my mind that people are willing to spend a good chunk of change on a piece of property that they will be tied to for, probably, years to come but they don’t want to spend a weekend and a few hundred bucks checking it out.