Two things to check into.I assume that the title company mentioned in your OP is the title company that the seller has chosen.

``````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````People that are behind on payments and PITI is more than market rent and have no equity is a real bad gamble.

@Mark Butler you should underwrite to whatever allows you to reach your goals in the time frame you and your partners have chosen.

Yes Washington,New York,and California for example are all overinflated markets.Many investors purchase there on the on an appreciation gamble than the CAP rate.I have many investors buying down here because they can leverage their cash for so much more greater returns than where they live.In some areas that I mentioned acquiring the land is the real goal and the CAP rate is an afterthought.Here in Atlanta the only 7 to 7.5 cap I am seeing is CORE assets in trophy locations.Example A class newer multifamily that a REIT or PENSION fund is buying.

Any time you try to do a refinance of your properties, the bank chosen appraisers will do their best to bring the loan in as low as possible so the bank avoids any cash back scenarios.

There are specific markets they've chosen for their acquisitions.

Has anyone else felt like this about the niche you have chosen to start in?

I took a gamble and lost haha.

This is the path I have chosen to take.

It is a gamble.