How did others fair in the last down turn and what was your experience?

I have been struggling to find a property using the rule of thumb 70% rule because it seems like the arv and the price on these properties are so close not giving me the room to even consider, so I decided to look at some multi-family properties and found some occupied duplexes with a huge margin for example duplex with 2b1b on both sides in nice area close to schools parks and downtown area fairly new roof and some updates listed for 49k and arv 175k ,fully occupied.

Some will not cover lease since fair housing law in strict enforcement.

@Kyle Moschkin You may be part of a relatively small group here on BP, but I'm fairly sure I've seen a few other posts similar to yours (US citizen living in China or other places with lower cost of living).

You should be able to looking that information up fairly easy online through your city or county.

If you're confident in your numbers and made a fair offer based on them, you're not "missing" anything.

This area contains old (1970s) housing stock, mostly smaller ranches with some functional obsolescence and a fair amount of crime compared to other places.

I've been starting to look into the Tampa Bay area but was wondering if anyone could give me some advice on how to accurately estimate construction costs and ARV in a new market, as well as on how to make sure you get a fair price on labor.

I had some real losers in there to begin with, despite a fairly thorough background check.

We agreed to split profits 50-50 with the monthly maintenance allowance available to me as-needed.My issue is that I am having trouble figuring out how to set everything up legally to make it fair for both of us.