Always put the pressure on the Note Seller first to produce everything.

I know IRR produces a great annual report showing where larger metropolitan areas are in their real estate cycle, but what do you use to determine where your market is if it's in a smaller metropolitan (or micropolitan) area?

If you consider all the fees (including mortgage payment), it will produce negative cash flow.

You're between a rock and a hard place and may not be able to close this deal with the situation you have. 

The difference between an average sales person and a rock star is experience and perseverance, its rarely a matter of natural ability. 

It produces income solely as a result of the efforts of you and your employees. 

There were literal holes in the roof that lead to the sheet rock sagging in a couple of units.

@Nichole Stohler Not sure if you are aware that when using SDIRA funds to invest in real estate, your account may be subject to UBIT if the investment you invest in produces UDFI. 

I'm stuck between a Rock and a hard place because I want to get involved in real estate one way or another.

That said, they produce good money and we have found relatively few issues as college landlords.