While I can't say, as a matter of fact, why this is the case; I can only assume that this is a result of a decrease in home ownership leading to additional renters, with the increased competition in the market accounting for any reduction to market rent from other factors.So, while a great deal of OOS investors were worried about whether they'd be able to keep their unit occupied; many of my clients and friends were chomping at the bit for leases to end so they could turn their units over and capitilize on the increased applicant pool.The property is West of I-5, less than a half mile from Mission Bay, and maybe a mile and a half from the beach.

Let's say a restaurant burns down and it'll take six months for the insurance money to come through.

If you had say a limit of 250 you could get a wide range of vehicles... some good some bad but all under 250.

I am thinking to change PM because they don't say a word regarding the previous tenant damage, and just send me the quotation to repair this and that.

Making some small changes and adding a PM drops your NOI by 17% Gross Rent $19,200.00 Vacancy $480.00   (includes economic vacancy) GOI $18,720.00     (Next to Expenses are their percentage of GOI)                      Pro Forma                   Modified Electric        $324.00 1.73%     $400.00 2.14%  Snow           $240.00 1.28%      $300.00 1.60%  Insurance    $504.00 2.69%     $504.00 2.69%  Tax              $1,200.00 6.41%   $1,300.00 6.94% Main            $960.00 5.13%      $1,500.00 8.01%  PM                                              $1,872.00 10.00% Exp            $3,228.00 17.24%   $5,876.00 31.39% NOI             $15,492.00               $12,844.00   Say a 13 cap is the going rate for parks, these changes drop the price from around $120K to $99k.

Here is a simple example, when you decide to buy say a Honda Civic or Accord, you will start noticing a lot more Honda Civics and Accords on the road, this has nothing to do with a sudden increase in those cars, but just that you have become more receptive to those particular cars. 

Better off putting a conventional loan on the paid off property.couldnt he for arguments sake buy something with heloc..lets say a 80K what he gets approved for..and then in 6 month slap a traditional mortgage on it taking all his $ out?

@Karl B.I just have to say a short story before an opinion is the only way I can actually engage is someone’s comment 😂 thank you for your great response lol

For example, say a property only clears 5-cap, it could actually be your most profitable property, because what if it's in "path-of-progress" in a hot developing area and it's clocking 10%+ equitable returns.

:-Do you know how difficult it is to convert a SFH to say a 4 or 5 unit multi?