Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.

This may be able to work if the ADUs can be added at a low enough cost that the NOI and cap rate provides a value high enough to justify the effort and risk.  

South Tampa, including Hyde Park and Palma Ceia, remains a top choice with its high-end homes and excellent schools.

But $40k is way, way too high a price.

Secondly, take advantage of reputable sources that offer free, high-quality content.

Resulting in lower quality construction and/or higher pricing to try and match them.   

Market is overpriced for the median income and interest rates too high to cash flow.That being said, there are deals - one just needs to be smart

Great time to for multifamilies rents are high rates are dropping and values will continue to climb for 2024!

The tenant pool is pretty decent in most areas for nice rentals as rates have pushed up smaller buys too high for first-time buyers in some of the towns.

Depending on capacity with work and kids, you could consider a high yield side hustle to create additional income that is devoted to early retirement of debt or funds set aside to purchase additional properties.3.