I recently closed on a nine-unit and was able to challenge my assessment down to the purchase price.

@Marco Campos -- The challenge as you've discovered in coastal markets, and other "bubble" markets, is that it is hard to achieve attractive rates of return.  

The problem is, structuring a deal where a partner gets his money back in six months plus a remainder interest in the company can be challenging.

Now to gather sellers to connect to them is another challenge! 

I'll include what I include on the application on the bottom of this post, keep in mind that I deal with low income tenants.Second is having a consistent, documented, defendable way of selecting the tenant from the applications.  

There were definitely  A LOT of headaches and challenges along the way (which I won't go into because this post is already too too long) - but after total tenant turnover in the first month, I've got all 4 units rented to properly screened tenants.  

All in all it was fun, challenging, has built in discipline and accountability and we were able to meet our saving goal of 30% of our monthly W-2 pay.

Now, I challenge you to take another." - Dan PoynterLastly, don't forget that we are here to help and likewise learn from your contributions. 

Now, I challenge you to take another." - Dan PoynterLastly, don't forget that we are here to help and likewise learn from your contributions.

I wonder if it will becoming a challenge to attract college students as tenants in the future.