Do you know how much money we are making with SERIOUSLY bad shape hosues in the ARV ranke of $200K?

I currently live in California and have much different weather trends, rental markets, etc. than in Cleveland and would like to learn a little more about what to expect being an investor in the Cleveland area from afar.I thank you in advance for being willing to share any insight you can offer!

I've been in that space in Albany for about 5 years now and whereas it used to be easy to get away with quite any mom/pop style rental, the national trend for beautiful experience driven rentals is starting to hit albany. 

Given the interest rates are trending higher I would proceed with caution as prices tend to work inversely based on interest rates i.e. when rates rise prices fall when rates are lower property prices are higher.

Some of it is in really rough shape but there are usually a few decent ones in the price range I am looking for. 

I did design work for years and know that by not staying current on the trends, it's very easy to be out of the loop and industry standards.

Every program I see has been trending upwards since...

I think this trend may end as fast as it presented itself

Hi Misty,Make sure you have your bank financing set up, that will tell you the percent you need to have down as well as other things.The Roofs and HVAC's may be a stumbling block for some lenders (I assume the parking lot looks like an Alligator) and it may also be an issue a lender wants solved soon after takeover.....What I'm saying is make sure you have a lender lined up who will press the go button on a property like this with OWC unless it's 100% OWC which is worth asking about (as well as length of carry = when you need to have it in lendable shape). just my 2 cents.

Hone is in excellent shape - new roof, floors are perfect- just a time capsule from the 80s.