I completely understand having a home with no equity and lots of cash flow, that sounds great.

I feel like for a software that I have to pay more that does a better job, it would be completely worth it.

Since I started investing I have completed 4 rehabs, 3 in which I have refinanced and have kept as rentals, the other one I sold after its completion, and I have my biggest rehab project to date going on in Kenosha.

What I keep finding out is that my target price is always at least 20% below seller's asking price.Here are my rules/metrics:total economic loss after property is stable is 12% (15% in lower quality areas)incremental rent growth after the property is stable is 2%expenses grow by 2%/yearproperty tax is 90% of the purchase price multiplied by a local tax rate (usually doubles tax from whatever seller pays)payroll $1000-1200/unit regardless of the property size (brokers claim that 30-units don't need payroll but I don't believe them :-) )reserves of $300/unit counted in expensesexit cap rate is 100 basis points higher than current cap rate (e.g. exit at 8% if current cap rate is 7%)cash-on-cash ROI 10%+ starting in the second year; first year may be lower if this is a value-add5 years total ROI (assuming sale) is at least 100%IRR 15%+ over 5 years (al ROIs are net to investors after 20% sponsor override)I can adjust may metrics to some degree but in order for me to get to the seller's acceptable price I have to adjust most or all of them to unsustainable levels.So, what should I do other than keep underwriting and waiting until the market turns down and all of a sudden my numbers would make sense for a seller?

@Scott R. we just completed a reverse 1031 exchange with $2.3M in commercial property with Ashley at Lawyers.  

A good sheet rock crew can save you weeks of time and complete your project much more efficiently.Tree Trimmer - Minor pruning is a piece of cake. 

@Zachary Foust First of all congratulations on make the decision to get in to REI and making the first steps to completely changing your life.  

I completed a flip in the Gwynn Oaks area a few weeks ago.

They had a sub contractor link and complete sets of plans.

You have to be completely passive in the deal and can only get distributions from the performance of the deal.