Every succesful investor on this forum will tell you that upper and middle class tenants tend to be better than the lower class, and yet somehow none of them have to resort to namecalling to secure them.

.- Your estimates are correct but there are other investors willing to take a smaller return on investment or are volume players.- You're not missing anything and these investors' optimism is going to get them extremely hurt.Based on what I see a lot in my market, it's more of the latter two. 

Recently this market has become a little saturated with many new entrants - primarily local investors but also some national players like Sayco and Havenbrook.

I have been in this market a long time and I know all the players, good and bad. 

But it is pretty much a chichi resort town, lol. 

@Daniel Botvynko you already have heard of most of the main players here in the Chicago market.

As a last resort, selling the house and transitioning to renting can be considered, but this is generally a drastic measure.

Even with a 330 unit location, your a small player with the construction, paving, sewer, electrician and other contractors. 

6) Thoughts on the sister city Las Vegas Multifamily real estate investment considering that it has some good economic growth projects coming up (AMAZON fulfillment centre , SWITCH supernaps, FARADAY, Strip projects such as Genting Berhad’s $4 billion Resorts World Las Vegas, the $350 million MGM-AEG arena, and the Las Vegas Convention and Visitors Authority’s $2.3 billion Las Vegas Global Business District.)I am also looking for networking with other investors in this area including investor-friendly real estate agents.

Our idea was to get one under our belt to put a little weight behind our name and show the real players in the area that we are serious, and here to stay.Financing has been addressed, but this thread is getting pretty big so I'll restate.