In addition to active listings/inventory, check out sold properties to see what investment properties are actually selling for in the area(s).

Hope your expectations are properly aligned with market realities:)

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

The market is tight now, but if you purchase right you should be able to achieve a levered IRR of 15%.

Slow market?

Anyways, even if a gap lender comes in, if it’s even an allowable second position (A lot of lenders won’t do that and Silent 2nds are a No-No) they add so much additional risk to the deal, potential legal ramifications and all around  generally dangerous feet’s.

We did use a high-grade vinyl plank flooring over the concrete floor down there, just in case, but years later we can say there have been no more water issues.We also plumbed in and installed a laundry room, purchasing twin pairs of coin-op Speed Queens.All of those renovations allowed us to go up-market a bit, from the prior $160/week to $180/week within the first few weeks on the incremental rehabbed units.

@Dustin Tucker market is Jacksonville, FL. $315k is not out of question.

Naples is an awesome spot—you're in a great market!

They are marketing a new deal in North Carolina on FB.