@Rudy Manna, I'm sure there are others hitting the 2% rule as well who are maybe not on BP or are not active.There are deals to be had, even in our hot market.

Saraland is hot right now, but the rental market is very odd.

People are trading homeownership for rental properties in large scores.For the last decade the number of renter households has been on the rise.

The market is hot here right now, there are many properties for sale but you have to act very quickly.

One street can be wonderful, the next is a hot mess.

So I sent in my contractor to inspect and see what's going on.When he came back and reported the property was in good shape and total estimated repairs would be under 10k,I wondered what could account for the low list price....and why the property was still on the market after 45 days in a hot market with all these eagle-eyed investors focused on the Jacksonville area...Then I went to look at it myself.Property was right under the I-10W but most of the traffic noise blew right on top of the building and you could hardly hear the traffic.Here was the kicker for me:There was already a long term tenant in place paying $800/mo with no rent increase in the past 5 years....and he didn't want to move.Long story short,I offered 50k,sellers countered at 55k.Deal done last week.I sent a speculative notice to tenant raising rent to $975/mo 2 days ago and received a signed lease back within 24 hours!

Sure it's more than laminate, but one hot pan/pot on the laminate and you might be replacing it quick.I can't see the photos on my phone, but if you upgrade anything that will take abuse, and the HVAC, windows and roof are in good shape, you might be able to renovate in that $15k budget.

BTW, 13500 RMB/ month is a great deal of money for most Chinese household, enough to support a middle income family.

It is an extremely hot market right now.

My target market is very dense, and very hot.