We do not supply pizza or anything else. 

Months Supply: 0.8 months - it actually went up from March's 0.6 result of increased new listings that didn't sell.Cumulative Days on Market: 36; +40%.

I am pretty sure I know the answer, but do you think a bank would supply a VTB on a foreclosure for the purpose of a Duplex conversion BRRR?

What if the underlying mortgage is a variable APR?

I'm currently doing a couple ELOCs w/ penfed.org. rate was 5.75% variable APR. process was pretty simple and quick so far, think they lend everywhere except TX too

Although the rate is variable my particular bank allowed me to get a fixed rate at very low rates for 1, 3, or 5 years. 

“Supply is at record lows, and prices continue to climb,” Tucker Blalock, an associate broker at The Brokery in Phoenix, told realtor.com®.

See the 3 things after the financials Purchase price: $390,000 I can get financing at 25% down, 5.5% amortized 25 years Per seller: 90% occupancy or higher since they owned in 2002 8 - 1 bed/1 bath at $550 per month 6 - 2 bed/1 bath at $650 per month *One of the 1 bed/1 bath has an onsite manager/handyman living for free so there is no property mgmt costs in the expenses* Owner pays water and trash 2017: Total Operating Income: $79,989.50 Expenses: - Lawn Maintenance: $1,800 - Water: $6,816 - Trash Collection: $1,740 - Pest Control: $820 - Supplies: $4,280 - Repairs: $9,852 - Insurance: $4,153 - Property Taxes: $10,515 Total Expenses: $39,976.82 NOI: $40,012.68 2016: Total Operating Income: $83,154 Expenses: - Lawn Maintenance: $1,800 - Water: $5,820 - Trash Collection: $1,680 - Pest Control: $604 - Supplies: $6,639 - Repairs: $9,910 - Insurance: $4,153 - Property Taxes: $10,521 Total Expenses: $41,127 NOI: $42,027 So if I’m all in at $115k (down payment + closing costs), assuming 40k NOI, i’m looking at 16.4% cash on cash with one unit vacant at current rents (without anything set aside for capex however) WHAT WORRIES ME: 1) No washer/dryer connections AND no laundry facility on site (would have to build a new building and run new plumbing to add one).

@Brian Johnson it is going to be hard in the current interest rate environment to get a lower rate than 4.75% unless you do a variable mortgage like 3/1 ARM or 5/1 ARM.

If you can locate the noise and do not see any water stain then you may just have supply pipes vibrating.