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

Also just to add, we did provide an entire packet for the appraiser of the updates, added value, AirDna data with occupancy rates and market data of neighboring comps.

Then you've opened Pandoras Box and you instantly have the guys in the HazMat suits with fans and plastic sheets all over.....and a bill for $5000 for something you could have done for $50.I used to do this kind of work on the weekends when the city inspectors weren't driving around :-) haha , one time the hazmat guy come down to check for asbestos checking ; it wasn't that bad it's actually 2k and insurance company for that in my case.( To be honest, the house with water damage is good to buy because it scares the potential buyer, but if it's located in good location we could sometimes purchase the house with 10-30% discount lol but nowadays even FTHB knows this secret too so they still overbid the house )but yeah, to the OP, if you want to be sure you have to cut the drywall, the more the better.

I just think that (1) OOS is more difficult than advertised and (2) higher rates have hurt 'cash flow' at every price point.You have Scranton, Allentown, Lancaster, etc. within a couple hours of you. 

Look for places that appreciates even when interest rates were at their highest.

I usually tell my investor clients that if the building itself will be in a flood zone (not just parts of the lot), it's not worth the investment unless it's a steal and you're able to pay off any mortgage easily if flood rates rise ridiculously (and you can afford to pay for any flood damage, yourself). 

Has anyone closed these new 40 year DSCR cash out loans I see advertised as fixed rate options? 

Michael, that's a scary Forum Title at the beginning of a downturn.Australia, China, Canada, California, New York have already droppedand the big banks have recently laid of 100s of high paying mortgage jobs.With interest rates over 5% for most average SFH buyers, are you leveragedfixed at 3-4%?

The issue here is that with investment rates as they are, I'd have to put more down (25% vs 20%) and then I'd be left with a long road to rebuild or repay that downpayment before I could repeat. 

Looking to purchase my first home and was initially going to go the traditional fixed rate mortgage without buying down points with the assumption rates will go down in the next year or 2 and I will just refinance.