My models only go down to 80% market value (i.e. a 20% discount) since this seems like a reasonable goal for the “average” investor in 2024.

In addition, several items can be done simultaneously (I highly recommend this to save time as time is your enemy) such as doing the exterior siding or stucco at the same time interior rough electrical and plumbing is going on.Foundation is always first and rough framing follows that (which includes windows and exterior doors).

I think it depends on the market.. they approached me on a furnished rental I had in Vegas (Summerlin gated community A class)  We got basically double or a little more of the normal rent..

Do you owner occupy this same tri-plex, and are you in a rent controlled area of LA? 

In one instance I was told that the seller was expecting 92 to 94% of UPB, which was in that scenario equivalent to a 85% LTV, and I thought this was too high for the amount of risk and unknown involved.I would love to be buying these around 50 to 60% LTV but don t know if that s realistic currently?

Reach out to @James Hwang about this.

If you are not you need to save more money. 20K will not go very far on a property fi you are not going to live in it. 

Quote from @Chris Doakes: So do you have a recommendation on another PM in the area? 

You can drive by and see if there is a info map/board with them available, and lastly you can go to the AHJ and lookup their addressing approval.

I'm in the Houston area and looking to list my property as a midterm rental before going the traditional lease route.