Welcome to BP @Scott C.

@Scott C. there are a several groups in the area.

What I'm about to say is my opinion based on several factors; a. experience in reviewing thousands of RE transaction with respect to lending issues. b. legal aspects from personal experience and formal training and c. subjective judgment in applying learned experiences.

Originally posted by David C.: Originally posted by Bryan H.: So. . . .back to my original question.

For specific investors, the %ARV may be higher if, for example, they have access to cheap funding, have cheaper construction costs b/c they are their own GC, are a real estate agent so don't pay commission to someone else, or just don't know what they are doing.

It gives a very practical meaning to the idea of making a class C apartment "clean and functional".

I worked about 15 hours a day and drove a $600 pickup truck with no A/C or power steering.

The house does need a new hot water heater, outdoor A/C unit, stove, refrigerator, carpet and paint, and some cosmetic upgrades = $3500-4000.

Hi @Amy C. , I've used ValueGuard in Philadelphia to perform a house inspection on my main triplex.

If your goal is to maximize your Cash-On-Cash returns by acquiring low cost properties in C areas while doing as much as you can to mitigate the trials and tribulations of high turnover, crime, and unreliable property management, then you should probably start elsewhere.If you don't know which of these strategies (or which strategy in-between these two) is the one you want to utilize, then the only thing that is clear is that both of these (and all other) markets are wrong for you.