I've looked at quite a few MFs lately that are doing much worse than 50% expense ratios due to elevated vacancies, distressed units needing rehab that the owner can't afford, and very high turnover-related expenses.These situations call for apartment turnaround specialists, which I don't claim to be, but clearly units can be bought for $7-12K each all over fly-over country and someone who knows what they're doing can do very very well against a backdrop of rapidly rising numbers of renters in years ahead, due to tightening lending standards and so many more people with blighted credit.

Lakeland is experiencing rapid growth due to prices increasing in Tampa.Regards, David

I interned for a small but rapidly growing Commercial Real Estate Firm last summer and one of, if not the top broker at the company has asked me to work under him upon my return from a 6 month stint in Melbourne, Australia.Generally, 3 years as a property manager is a prerequisite for a broker at this firm, so I feel blessed to have such an opportunity. 

WEEK 7 UPDATES:The bones are solid and finishes are started to be installed rapidly.

Is the term "boom or bust" simply reference to appreciation going crazy during booms, and then declining rapidly once we reach a recession or hypersupply? 

. :)  I'm working on my first flip right now in Grand Rapids, MI.  

Having lived and worked in Detroit, East Lansing, Ann Arbor and Grand Rapids during residency, I personally would veto going anywhere near Detroit.  

You will rapidly have many new best friends.I would do a lot of educating prior to picking an investment vehicle.

This wasn't a steal by any means, but my tenants are paying my mortgage, it's a tax shelter, it's appreciating in a very desirable part of town (and rapidly growing), and I'm even cash-flowing ~$50 on top of all that with maintenance, insurance, and utilities figured in.

Becoming an agent here is very challenging because everyone and their grandmother has a real estate license.I bought property here when I felt there was still money to be made and am now looking to take my gains and run somewhere else because my cap rate is rapidly eroding due to the sky-high expenses here.I'm also looking for the best areas to invest outside of FL, because it's hard to make money here and dealing with hurricanes is no fun!