And the property manager is the only person with a long-term interest in your property, so their opinion carries a lot of weight!

Cap rate is one metric and it's like using your weight to determine your fitness level. 300lb NFL linemen are faster runners than a 200lb McDonald's regular. 

It’s like asking someone how much weight are they losing by getting better sleep.

I find it's best to get your rental data from a few different sources, weight them, and then do the math.

I'm willing to be a little ambitious, considering up to quads that need light work, but my wife is leaning pretty hard on wanting a turnkey SFH.

not in Alabama, not in California. think about a down payment, closing costs, light repairs, rent ready costs, commission to the property management company, then you fix a dishwasher, then in year 2 the furnace goes. 

I do see the light at the end of the Detroit tunnel its just a little too slow moving for me.This has been a great learning experience and Ill keep coming on here to learn more!

However, the borrower projected a $21,000 light rehab job.

Personally, I am going to buy an all-cash or lightly levered deal towards the back half of the year when I exit a hard money note I've recycled for the last two years.

I sell for about 70% above my all in cost, eg purchase plus light reno totals 70k, I resell for 120k.