@Dwayne Clarke going to take an educated guess that what you were cautioned about is buying someone else's problem.Over the last couple of years, many OOS investors bought a bunch of SFR and MFR properties with LITTLE due diligence.Many were sold Class C & D properties that they thought, or expected to perform like, were Class A or B.Once they figured out what the properties really were - via tenant nonperformance and never-ending maintenance issues, they looked to sell them.If you know what you are doing, their loss can be your gain.If you are new and do NOT know what you are doing, then you'll just be the next "sucker" that gets taken.

The last full gut we did ~1600sqft rowhome was $125k with permits.

I purchased a duplex in Carlsbad myself last month...interest rate wasn't great (mid 7s) but they could be worse I guess and I can't wait around hoping they'd come down.

At the last meeting they are still expecting 3 rate cuts this year.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

It seems that it’s just one of those things I have to take a loss on.

Until last week.I always thought a legal contract is a legal contract.

My tax lady said it’ll be considered a loss and not to worry about it.

You'll be seen as an experienced investor with your 5 exits (assuming they've been completed within the last 36 months).I'm in San Angelo, TX so about 4 hours away from Dallas.

I am new to Bigger Pockets but have been an owner/investor for the last 20 years.