I'm going to reduce my rent by $100 as this ratio seems abysmal (quite literally a 0% ratio in view-to-application). 

Are you certain the after repair value will justify this $40,000 budget?

@Bruce Schussler   I am always suggest my borrowers stop at 60% loan to value when utilizing this strategy.  60% is the loan to value where the loan would qualify for the best possible rate.

This is when the Realtors come out from the shadows and say their market is best.To be honest you can make it work in almost any market, red or blue.

@Yonah Weiss can help you.

I just closed on my second 4plex in Emeryville this week, which is 75% occupied, and every unit is renting below market (~$250-$1500 less).

All this adds up to a lot of continual investment overtime.So, I look at like this: a good BRRRR will almost always be a good flip.  

This appears to be continuing into the fall.For some broader context, here’s a chart of the median sales price of a single-family home in Austin over the past 10 years:Compared to the recent median price peak in May 2022, single-family home prices in Austin are down approximately 19%.

Vendee was authorized to help the VA with all the REOs they had after the last downturn.

The last piece of the East Bank puzzle will be the sale of Carl Ichan's scrap yard which is going to auction this month.