Hey Mario, yes out-of-state investing can work well especially if you're in a high cost of living area.I invest in Detroit and live in California.

Social Media is and should continue to be, my main driver of leads for these businesses.Any insights are highly appreciated! 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Taxes are fairly high so that should be taken into consideration.

High ROI How did you find this deal and how did you negotiate it?

SD has a historically high appreciation rate and it sounds like you also did a lot of work to it. 

From my understanding right now seems like not an ideal time to get in with mortgages being high and rent being low.

I’m thinking about luxury condos for short term rentals since I’d occasionally want to have a place I can use for myself.With mortgage rates so high and HOA fees for many of these buildings at around $1k a month, it seems like investing in a condo in Miami is more of a game of price speculation.

@Leah Thibeault there are tons of high traffic posts on this subject!

This projection opens up opportunities for investors to acquire high-quality properties at prices below replacement costs, yielding attractive long-term returns.One of the primary challenges facing multifamily investors is the impact of interest rates.