The property will rent for about $1,350 and the total of the monthly payments are about $1,000.It's clearly not a cash cow, but the equity is building rapidly because of the age of the mortgage.Has anybody done this before?

Overturned in King County Court, appeal pending. 2017 Rapidly rising cost of rental housing Rental Agreement Regulation amendment SMC 7.24.35,36,38 limits move in charges and requires provision of payment plan.

I think it feels more like 2007.I hear ya on the ten year cycles but in the markets I am working in.. job growth is continuing at a rapid pace .. not sure what would slow that down and with the new tax laws its even stronger..

The area is growing rapidly with commercial developments on 3 of the 4 corners at 434/Mitchell Hammock intersection.

Talk about rapid fire, I'm conducting mortgage business and closings while simultaneously trying to respond to all you good people at the same time!  

After getting my degree, I worked for a manufacturing company that moved me out to Harrisburg, PA for a year and then to Cedar Rapids/Iowa City, IA for 4 years after that. 

@Mora Clark I invest in Holland, Grand Rapids and Kalamazoo if you are interested in doing anything in W Michigan we should talk :)

Which scenario makes more sense, with $75K cash available:1) put $25K down on three separate SFR (in the mid-west) all priced at approx $100K each, that generate net cash flow of about $300 each = $900 total cash flow per month, or, 2) put the $75K down on one, nice $300K home, in a rapidly expanding market (LV, for example), in order to take advantage of the projected growth in the housing market over the next decade, even though there would be minimal, if any, cash flow while renting it out in the meantime. 

So my question is -- what's the typical approach for arriving at a possible purchase value -- as it relates specifically to capturing the NOI in time, especially if it seems to be changing somewhat rapidly?

Rapidly grow portfolio and maximize leverage, but mitigate risk, build durability and avoid pitfalls.