Historically, the average closing time was 75-90 days.

Wondering if can/should invest in a rental property here or in FL, where it is less expensive.

The 2021 cap rate at that price was 3.5% though I expect lower now with issues and current expenses.

Water in this market is very expensive.  

Financial Management: Set up a system to track your rental property income and expenses.

Reason for mentioning single story 4plex is to have the ability for tenants to pay for water/utilities vs. it being an extra expense I accrue.

On the other hand, it can be more of a hassle and expense if they don't. 

In 2018 the average US home price was $248k In Dec 2023 the average US home price was $382,600.An increase of roughly 50% in 5 years. $100 in 2018 buys about $80 worth of goods in today's purchasing power. 

I hope Mario can mitigage his losses by selling the property quickly to stop the bleeding, or re-tenant and refinance to less expensive debt but this serves as a case study on the perils of investing in lower tier neighborhoods.The amount of people on the internet and social media selling the false narrative of how easy it is to create wealth through investing in real estate, specifically these lower tier neighborhoods is upsetting. 

In this case there seems to be missing income/expenses(living expenses) not discussed?