@Heather Hopkins I would consider the triangle as well...lots of inventory and still deals to be had if play the game correctly.

Yes, a $600,000 flip demands the better materials but the $150,000 flip would be overkill.3.

I also see more targeted investment plays around our exploding universities (ASU in Tempe, ASU and UofA in downtown Phoenix, and Grand Canyon University in NW Phoenix). 

Cash-on-cash is relative and it is only one metric...and it really only works for year one to put properties on a level playing field so we can compare where to put our limited dollars.

Huge demand, and a shrinking supply due to condo conversions means you have an extremely high probability of your property value going up significantly over time.

I haven't researched Victoria or Chase City at all so I can't speak to those.I am in the MBA at VCU and we just had a class on the economic environment in small towns across Virginia (South Boston and Emporia specifically were mentioned) having a terrible effect on the housing demand in those areas. 

Play up the uncertainty and be ready to walk, too.HOWEVER - what you do have working for you as the seller is that say you do hire an engineer and they render an opinion that the item is serious AND Costly...

You don’t have to know why just Play by the rules.

Your situation is different then mine since you have a lease in place, so I don’t know if you could demand one.

Also considering that market rents are near $995, there doesn't seem to be a value-add play here.