Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

Hello AI,     Thank you for the advice, that is good information to know.

Actually, I would clarify that condo's are more complex than any traditional purchase/refi as a condo questionnaire is typically required for FHA/VA/Conventional and Non-QM lending, which adds another step, cost and layer of approval standard to the loan process that isn't required on a SFR/PUD/2-4 unit, as the association needs approval, in addition to the property and the borrower.Now a HEL/HELOC could be different as those are subject to lender-specific guidelines more so than the others, which are typically investor-driven so it would depend on the specific lender in that case.

You have a few individuals who try to do the right thing like Dave Meyer, who I respect a lot, but the leadership seems KPI driven and you have young staff seemingly without experience of their own trying to move the needle.

ok you guys. lol. my quote was really "out of context" for this cally post because like many would agree we are talking about california crazy method homeless killers here. hahaha (personally I have driven past "camps" throughout LA so I know its real.

It's up to you and obviously, the sale isn't purely profit driven, but also lifestyle driven.

If you would need to purchase the property to get permission from the city, I would pass on it because it isnt guaranteed they will give you permission and then your plan A is down the drain.

Even when plan A is to sell in 5-10 years, plan B is if cannot sell then try and exercise the options, Plan C is to redevelop and Plan D is to sell the land..

Owning an investment property should never be tax-driven.

Institutional buyers have driven up wholesale prices in rental markets to a point that doesn’t make sense to me.