Each unit is 1800 sq ft with high end features, such as: Granite counter tops, top of the line cabinets and vanities, 10 ft ceilings with crown molding, top of the line appliances, wide open floor plans with travertine floors, 3 beds 2.5 baths with a garage and an upstairs balcony.

Hi there, :) I recently read this: https://nextcity.org/features/view/reno-tech-indus.... and became interested in the region. 

This is one of my favorite features of Bigger Pockets especially for asking specific questions.

I spoke with the property manager about this, and she said the board doesn't enforce it, it's unenforceable (apparently the development period has passed so it's no longer a valid rule since it said DURING the development period specifically; she said it was requested by the developer to prevent investors from buying the homes and renting them out initially which would decrease resale value) and they have no intention of enforcing it, in fact, they want to take it out because they'd rather have the houses occupied than empty, which causes other problems.But she also said that they will actually be meeting with several home owners to discuss as some want cap or outright ban.

Cap rate is 10.19% with the low rent rates.

CAP is around 4-5; GRM around 13-14.  

@James Wise I listened to the BP podcast that you were featured in just the other day.

Can someone help me recall the name of the site which is similar to Redfin, homes.com, etc but has an investment platform allowing you to sort by cap rates?

This is one of my favorite features of Bigger Pockets especially for asking specific questions.

Hello all,I would love to hear everyone's opinion on situations like this, since I am still figuring out what my level of tolerability is for deals.Have a potential deal with high cap rate (20%) triplex.