It gives me pause as the first 6 months is when I am most vulnerable as we will be doing remodel work and improvements and the property will only be running at 50% capacity.

I live in a small town name Chester and look to help improve the area by buying some of the distressed properties and rehabbing & renting.

The reason I’m looking for a high CAP rate is because it is a good indicator of a property that has room for improvements. 

The link below has a link to the City's info bulletin about these plan requirements.https://www.sandiego.gov/sites/default/files/dsdib...The City doesn't provide water/sewer or any ROW improvements for residents unless it is due to a failure or damage.

In the San Antonio market, you are looking for properties with the following improvement type on them "Multi-Family 2-4 Units." and that is not a massive list. 

I've found that tenants that don't intend on paying rent frequently butter you up, and try to get friendly with you, OR...they start talking about capital improvements to the place...It's a tactic to make you think they care about you or the property, so that you are less inclined to start an eviction against them. 

It is in an area that I believe is improving and has some future development (large luxury apartment complexes set to develop in the area). 

Not sure if the situation improved or not.

I see from your profile we have similar investment interests and goals. 

This is where you will need to have a list of what you plan to do to improve the property, and how much it will cost you (or the contractor) to get the job done.