Allapattah is more affordable than wynwood but look out for the flood zones.

I understand your frustration with the market prices here and realize it may be easier to start off investing in another market.

The same amount of money is enough for a 5% down in Los Angeles or 20% on more affordable markets.

Agree that it's not a good idea but I can't afford to have 2 months vacancies.How do you target seniors - any marketing tricks?

A new tenant that can afford to pay that mush immediately would be a safer bet.

The hard part is keeping it in the price range in mind for what we can afford and what is a good deal.

(Asking as I have heard some lenders will push you toward a conventional loan if I can afford it...as they get more money that way?)

You want to be sure the tenant can afford the rental by making them pay a full month of rent and deposit prior to move-in, then you can discount the second month.I think you're both culpable.

Most of the employees can't afford it anyway.

We will try it out for a few more months, worst case I will sell in the spring/summer and 1031 back to Phoenix :)Agreed on higher priced rents being harder to rent in Toledo.I have found the sweat spot to be around $700 per month.Washington Local can go for higher.Perrysburg $1,000+ tends to go quickly also.Only thing with the suburbs (Maumee, Sylvania, Perrysburg, etc...) is that it's mostly home owner based.IMO not many folks in Toledo can afford to pay $1,200+ in rent.Just my opinion.Thanks