Every year the MLS adds say the same thing, rent is under market at (525-550).These sellers are not generous, they just cant get more out of the property - the tenants are working poor and have not seen much in the way of wage growth for the last 10 years, they CANT pay more.Keep looking but know that cap rates are very compressed right now and it is going to take a lot of digging to find even one deal.  

It's not usually the most fun activity to spend a Saturday on but when I can assign a handsome value to my own time over 4X my W2 wages and still come out ahead of shop charges it's very much worth it.  

And they will need higher wages.

One teacher I worked with said, given JUST the hours she puts into her job, she was making about minimum wage, not to mention her own additional expenses associated with keeping said job.

They think it needs to be in a B+ neighborhood but below market, cash flow right away, be close to the best schools, be in a city that has population growth, be in a city with that recession proof (whatever that means), have wage growth, have a high median income, have the most potential for appreciation....etc...

They own elder care facilities in the area and the minimum wage hike is killing them too.

A large income earner or someone who had a wad of cash dropped in their lap is going to have a much easier time of it than the person who is scratching and scraping to save up for a down payment.

I’m just getting started in REI as a serious earner.

Obviously it depends on what income you want it to generate before retiring.I also have 36 units, and flip, well outstripping my wages...but still have that W2, haha!

It's very difficult to find help that will be worth even minimal wages!!!