If you haven't done any flips in the area, HML rates will be high for you to start with no verifiable track record locally.

When you get higher, you are essentially bidding down the interest rate that you receive.I am not a tax lien specialist and recommend reaching out to some of those who are very active on BiggerPockets like a Ned Carey

Hopefully some day they’ll force listings to include cleaning charges in the rates.

I'll echo what Stephen said, insurance makes things tricky as well as the high interest rates impacting the rest of the country, but if you get a good enough deal you can maybe make it work.

Do you know what the conversion rate is on cold calling these lists? 

It will increase the ARV which could mean more cash out in your pocket, or a better rate because a higher rate could decrease your LTV. 

I have gotten as far as looking up storage units on loop net and comparing cap rate.

The "1% Rule" can be a great rule of thumb but it doesn't account for a massive elephant in the room: Expenses.What really matters is NOI (Net Operating Income), which is why we prefer cap rate. 

- Property taxes and insurance costs are $101 per month- Down payment is 30% on a 30-year fixed rate of 5.5% interest- Monthly rent is $995 monthly- Closing costs are $5,500If you have this information when considering purchasing a property, here's what you'll get if you type this into ChatGPT:"To calculate the return on investment (ROI) and monthly cash flow for the property purchased, we need to consider several factors:1.

He offered me a deal he had PRE NEGOTIATED, it was a SFR worth $50-55k (remember this is 1982-1983) for $55,000 with $5,000 down and owner financing of $50,000 over 20 years at the then unheard of interest rate of 7% ( new financing was available at 11% +).