If similar properties in similar condition are selling for $250K, say, I'm interested in the property at $150K but not $225K. 

Is it a very low crime area - similar to Chandler for example?

Hey Jean,I am in a similar situation.

@Mark WilliamsThe valuation of commercial asset (which your 24 unit building is) is driven by the NOI of the asset, the building class, the cap rate for that asset class in the area where the building is located and thit is very different from the purchase and sale of residential properties for which the value is determined by the price other people paid for similar properties.it is important to look at the P&L statement for the building you are looking to purchase and verify that it accounts for the expenses and income to work out the true NOI.The NOI divided by the cap rate and divided by the number of units would give you the price you should expect to pay.That price per unit will vary depending on the class of asset it is.Class A commands the highest price per unit and the lowest cap rateClass D commands the lowest price per unit and the highest cap rateNot the precise answer you were expecting but hope it helps.

I'm in a very similar situation like yours as I live in Orange County and quickly realize that a lot of cash/equity is required to have even any type of reasonable monthly cash flow for SFR. 

It might be hard to get a lender to borrow on a property like that unless you have a strong partner with a history of doing similar projects as the lead.I'm not sure which investors you have been speaking with that are not very excited to buy, but it likely relates to the strong real estate market and the fact that there are not as many deals around at this time. 

I see other posts that says similar things like mine & they have been posted for a good chunk of days. 

It's not an exact match to your situation, but it has similarities, and I think you'd see tenants just as happy with baseboard heat that could increase the temperature ~10-15 degrees as you would with completely separate furnaces, with a MUCH lower upfront cost.I think the main thing to consider is how long you're planning on holding the property.

I've been very pleased with Tenant Cloud thus far - similar viewing platform as Cozy, but more features (automatic scheduled late fees!) 

I am trying to do something similar and have found out, the hard way, what other members are saying.