Market is overpriced for the median income and interest rates too high to cash flow.That being said, there are deals - one just needs to be smart

Hello all, I acquired a property remotely thru the online tax lien sale in Lake county Gary IN last spring and successfully redeemed it. 

Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.

@Monica C.I've invested in a little more than 10 separate syndications with about as many different leads.The one thing I appreciate the most is those asset manager who are willing to send out monthly charts of actual vs pro-forma income and expenses.That's not to say that they are always within budget, because they usually aren't, but they at least show a level of honesty and accountability as well as showing progress.I'm invested in some deals that publish very few KPIs if any at all.

My research online indicates $2-$2.50/sq. foot for installation of flooring.

Even if you move out, you can still cashflow +As for single family or multifamily, you can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

I think both are good options and I'm very happy that I started using these online algorithm based studies. 

We are going to buy a property for purely rental income in Phoenix AZ area with good schools.

You’ve screened their income well. 

I made an offer within a few days of it coming back online and closed 4/21/2017 at $44,000 below the original listing price in less than 30 days.