That makes me think the purchase price should be closer to $100K, and I am hoping to obtain owner financing.Admittedly, I’m a little gun shy on something strictly commercial, after seeing the effect that COVID has had.

I utilize a professoinal and had some advice from tenured property managers to make sure you have a strict lease so worst case they do not pay but you may have other recourse given the strict lease agreement that does not involve nonpayment of rent which is perfectly fine to evict in those scenarios of lease violation. 

At a time when we have record homelessness, and when many people with jobs are being denied housing because of overly strict qualification requirements, to hoard a property and keep it unavailable for someone to live in is beyond unethical and immoral.

It’s strictly based on an analysis of the fair market rent for the areas where my rentals are located.And in my area, rents have been climbing every year quite substantially.

Miami is more of an appreciation market vs strictly cashflow.

Wider planks tend to cup, the really cheap 7mm and 8mm stuff is almost always garbage(though sells for under $1.00 ft2 routinely).The 10mm and 12mm laminate is regulary available for < $2 ft2

But if it is as Daniel said then, yeah, I was strictly discussing hard money!

If you don't have a lot of expenses (rent/mortgage/kids/cars/etc.) find any way possible to get on that wholesaler's team, even if it's strictly commission on acquisitions... the experience that you can gain in just a year or two of working for a high-volume wholesaler could be invaluable for you.

We routinely buy deals listed on the mls for either at or below asking price (not that asking price means anything, but it's a metric commonly used to gauge market competition).

That being said, some investors that are buying STRICTLY as investment properties, evaluate singles on CAP to decide if it's a good investment or not.