Assume the role of your guest but in the end word of mouth is your best friend here and the quality of your property and amenities is win lose here.

To me location, physical condition, tenant quality, a high demand rental market, high chance of rents increasing and appreciation are more important than how it looks according to the 1% rule.

I know the work needs to be done on the front end to ensure you get a quality tenant in the house but c’mon this is kind of crazy.

People have no imagination so if you start showing it while it is being fixed up in the construction phase you have a low percentage of getting a quality renter.

It would be on a very small scale to ensure that quality can be maintained.

Although they usually attract high-quality young professionals who have well paid jobs and easy to manage, I found the cash flow is just not as good as what I expected (which means a longer wait for financial freedom) and I will take me a while to accumulate enough to not have to work.

A quality agent can make the transactions mesh together much easier and it will be a better sign for the Seller and Listing Agent on whatever home you want to buy.The bigger piece of the puzzle is making sure that financing is not an issue and that you can qualify for both payments and that your DTI's are in range.

Hi @Ryan Fisher, I'd be curious how closing costs on a $460k property are $3,000, and how there are $0 in repair costs on a 4-plex (with what I'm guessing are varying degrees of tenant quality).The seller likely views it as "great cash-on-cash return" because they bought it in 2011 for $175,000: When they say "great cash-on-cash return", they're probably referring to their own ROI, i.e. how much they're earning compared to how much they invested back in 2011.  

I'm a big believer in hands-on projects like this, keeping costs down while getting quality work, especially when you're starting out.

Just be prepared to go through a lot of applications, because finding quality tenants may be a challenge.