The digit after the dash on HUD's counters is supposed to indicate the number of bids (not bidders).

On top of severely compressed Caps (5%ish), you're lucky to hit leveraged cash on cash returns in the upper single digits.  

Essentially, my family has been here since the 80's, not born here, but transplanted :) Software sales & digital marketing by trade and fairly new to real estate investing, but hungry to learn and take action now!  

Meanwhile your lender sacrifices the opportunity cost of not having the money at work in a successful project with an experienced rehabber who is happy to pay a double digit rate of return because he understands leverage and has an efficient process that gives him a much larger pile of profit by borrowing a portion of the cost instead of limiting himself to only what he could handle with his own capital.

Couple hundred bucks a door monthly cash flow, double digit ROI, and yes the prices appreciate and you build equity.

If you have any concerns about managing it, there are lot of great options out there for self-managing if you decide to go that route; aside from providing the basics (listing, tenant screening, digital lease creation, rent collection, and maintenance tracking) some services also offer your tenants additional capabilities which makes it an easier sell on your end when getting them to transition over (ie. their ability to report on-time rent payments to the credit bureaus).

I am sure you know that the housing market has had increases in value in the double digits in many states for several years.

If you're playing the currency arbitrage game, that's fine, but you're gambling.

See below...double digit declines in starts and permits.

My partner and I dig it!