Then they do a quick conversion to condos in two years and raises the property value.Such buyers are most likely buying on emotions because they are purely looking for a nice home to live (not cash flow), possibly buying in that location because of proximity to family or about to start a family, etc; so they will pay top dollar.  

I am currently looking in Gwinnett county for a quad - they are really going quick!

They like to see at least $100/unit minimum, and would prefer to see closer to $200/unit if possible when they do this quick litmus test of whether something is a good deal or not.With your numbers above it would seem that taking the 50% of your $319 and then dividing it by the three units, you'd end up with about $53/unit/month in cash flow.  

Not to get higher rent, but to attract more tenants and compete with the apartments.  

I see how the acquisition of a portfolio of good rental properties can be an attractive alternative to learning how to make money with Stocks.

It all depends on how much the seller wants and how quickly they want it. 

It requires you being quick to respond when things come up with a property under contract.

@Mike McCarthy @Shaun PalmerThanks guys, I appreciate the quick response.  

I want to start taking action quickly so that I don't become one of those who "never get started." 

Really means a lot that you took the time to get back to me so quickly.