I don't have any specific goals set yet.

James, I probably should have mentioned: my bar for what constitutes a "lot" of time and effort is set verrryyy low these days because I spent years refining my LTR operations to get them dialed in...At this point, my LTR operations are such that just adding an extra hour per week of work would be a noticeable increase to me... ...It wasn't always like this, though--I had to work too hard to get to a point where I don't have to work too hard  :)

Most of the largest cities in the Midwest, includingChicago, Detroit, Indianapolis and Minneapolis, rank in the middle of the pack.Geographic and infrastructure advantages support leasing by small manufacturingand distribution tenants in these locations.However, limited population growth, or in some casespopulation losses, result in less robust leasing among smaller tenants in localconstruction trades.

One model I’m seeing investors doing is the rent by the room strategy / padsplit.IF done right, you can turn a single family home to function like a multiplex - increasing the cash flow by double, even triple oftentimes.Has to be the right property of course / layout / characteristics to minimize drama and conflict between roommates / tenants since it’s a longer stay than STR and spaces are shared but with the right set up and systems in place in can be extremely effective and super profitable.You can easily switch from STR to MTR since it’s already furnished and just make a few tweaks.I can definitely help you put some ideas together or connect you with some investors I know doing it in Jacksonville FL. 

Otherwise, uniqueness of property and area, but also limited to no accessibility constraints and limited to no hotel presence. 

The amount of rent is based on the AMI which can be found here in this handy chart:https://www.sandiegocounty.gov/sdhcd/rental-assistance/income-limits-ami/so the calculation looks like this:For a 1BR unit (2 person household) at the very low income level you could charge a max of 1/12 of 30% of $48,500 or $1,212.5 per month.Also, in the agreement that I've seen (which was for a different City in CA) there were some restrictions against students.  

Sorry for the late reply @Linda Weygant, I missed the alert and didn't think I got any replies...Great response, and that's pretty much how I set things up w/my CPA.  

I have never seen the bids stop in the middle.Typically the reserve is set for the amount of money due and all other fees incurred.

Steve first I have heard about this hybrid.. interesting.. this is a pretty simple set of facts would be rare that anyone would need an attorney to guide them here on the left coast. 

Good morning,There is a home I’m interested in for a single property investment: Ask 160k, prob rent 1300/month , Elderly owner prob owns free and clear I’m not dead set on this home but I like the property and the location!