There will be multiple markets you can achieve a 7.5% cap rate especially if you're buying with cash.

With insurance companies canceling policies and raising rates has anyone uncovered a way to self insure rental properties?  

We talked about an aggressive paydown at a rate of $5k for the next 6 months to make the deal sweeter for the next person, but renting it would be preferable to that I believe since I can get a higher return on smaller development projects at a burn rate like that. 

That rate might be justified if you were hiring a closer or someone in an acquisition role, but for cold calling alone, it’s definitely over the top.Thanks for sharing your insights—they highlight the importance of having clear systems and processes in place.

If you contact me (my BiggerPockets profile explains how), I'd be happy to explain. 

When you finance through national lenders, in your experience, is a balloon a common requirement for commercial loans of this nature or is it possible to get a fixed rate for 30 years?  

I've tracked my metrics over the years and I'm getting 99% hit rates with fewer than 1% wrong number percentages.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

You would contact an electrician plus the power company to separate electricity.

New-home sales hit a seasonally adjusted annual rate of 698,000.