Another falsehood spread by the roofing industry.  

Talk about what you're doing on social media.

You'll find the best spread on properties that already have good bones and layouts, but are really ugly or dated cosmetically. 

If you think there is a 300 basis point spread between these two cap rates then possibly you could pay him what he wants (or at least the market cap).I imagine if he is a single apartment owner it has to be under-managed.I really like the Charlotte area myself.

Texting and methods of  social media is fine, but you will find you learn much more by going to meetings, attending investor property tours and the like.  

Social media is a super easy way I can check out what type of person I’m dealing with.

I pay down enough debt on each property to make sure they can handle a 20% deduction if rental rates go down in my market.I look at my spread between the market and RE to make sure I'm at balanced based on my long term strategy (I max out our ROTHs).

I was anticipating a higher rate but was caught by surprise by the spread, which I guess implies a considerably higher risk...I understand during bad times an owner will walk away from a rental property before a home. 

This will also spread out the costs of the renos.This only applies to renos, do any repairs right away as leaving them unattended to can cause more damage in the long run.

This will change, so you have to keep monitoring this.B) - Analyze your Current Exit/Flip potential   1 - List the Current Sold Properties over the last 3 months   2 - Slot these properties in the Ranges established above (A1)   3 - Establish the potential profit by using the spread within the different reangesC) - Analyze your Current Exit/Cash flow Potential   1 - 3 - See above as applied to the Rental MarketThere's a lot more to this, but these are the basics.When the properties for sale fall below the needed $#### to enter (to make a profit), don't wait...pounce.