Buyers need to understand that there is a supply & demand.

As they currently sit, with no updates or value add plays, we are looking at cap rates of 8.5 on a 1 million dollar price tag, 9.6 on a 2 million price tag, and 9.1 on a 1.2 million price tag.

I have seen this problem rampant in UT as well with low appraisals and I bet all across the country just due to the fact that supply is so low and demand is so high we are appreciating so quickly that appraisers cannot keep up.

Identify the zoning characteristics, political environment, and real estate market demand parameters for each parcel.With the wide variety of sites you delineate, there is a wide range of different development characteristics to research, design, entitle, and sell or build for each project.

At the very least an attorney can help write a strong demand letter that will give the receipts more authority.

Get a few properties under you belt, cash flowing and then you can move where ever you want to settle down.Your scenarios would get you at least 4 houses maybe 6 if you play it right in places like Indiana, Ohio, and so on.

@Paul YousefI had to read your post several times as I thought my eyes were playing tricks on me.

I'm going down to Triple play on Tuesday until Wednesday evening?

Not sure how you can demand seller for repair since it was never brought up.

The cons: those areas aren’t in as high demand and the tenants will probably be more of a chore.