You might have bought a higher cap rate but tenants and quality of location might not have been an A.For location you can have A,B,C,D and tenant quality (mom and pop tenant single operator, mom and pop tenant multi-unit operator, franchisee single tenant operator, multi-franchisee location operator, national tenant (private credit), national tenant (publicly credit rated but not investment grade), national tenant (investment grade).Then you get into how many locations or type of credit is backing the lease and a ton of other factors. 

This type of quality work is likely the reason they are suggested a ton on BP.

That's very dependent on the market, size of the property, class of neighborhood (low or high quality finishes) and end use of said property (rental or flip).

@Mike McCarthy sure thing, I was referring to B | C location with A | B unit.I think that we all agree on positive cash flow per unit when the unit is in good location and in good quality.

Hi Caleb,If you build it, you control the quality.

There are a lot of quality tenants so take your time, screen them well, and have a contract with your terms and conditions ready to execute. 

Usually when those conversions happened utilities were not split properly especially since no building permit or proper inspections of the quality of the conversion work performed.

Work hard to attract quality deals and vet them or else you will be wasting the investor’s time and damaging your relationship.Things to Remember:Business must continue – Investors have tightened their lending policies, yes.

You can get an inexpensive, quality, but it will take forever...

Id describe the majority of my rentals as sort of B+ quality rentals in A- locations/markets, with a few of my rentals as A quality in B class areas.