Also, check out your local REIs. 

@Kevin S.Yeah I mean, maybe... in my experience permitting has everything to do with local governments being able to increase your taxes for each and every improvement.

We have a local meetup that meets every first Wednesday of the month.

It was not producing a return that justified the effort and this was a purchase made prior to the recent rate hikes and the crazy appreciation from 2012 to 2022 (so its return was better than if the property was purchased today).I do believe a local investor should do better than an OOS investor, but it starts with accurate/realistic under writing.  

I reached out to a local bank that knew the property, and asked for the commercial lending department. 

Why not talk to a local agent or 5 and see what they think?

Are you planning to invest locally or are you open to investing out-of-state?

Contacted local DSCR loan officer and was told the best rates would be 7.325% with 30% down and that’s with two points.

Here are some tips to help you make an informed decision:Research the Market Before Making a DecisionIt is important to research the local real estate market before investing in a property.

Find out about investment meetups and groups in your local area, and find out if there are any players that bring in partners.