Be honest with yourself about the condition of each house and how they are priced. 

After several break-ins on prior rehabs, I decided to install security at all projects for two reasons, keep my contractors honest and notify me when unauthorized parties attempt access. 

@Brian Christensen Unless the land is extremely valuable, your likely better off building a duplex, which will be significantly cheaper per ft2 than a 4-plex, due to different building code and fire protection regulations. 

*Most importantly, you need to have an open and honest meeting about your concerns and exit strategy.

I am willing to give you my honest advice:-)

Could any local share their honest opinion on living and investing in Tacoma? 

, my Index Funds have done extremely well.

@J Scott: To be honest I am not sure.

If I run the same analysis, using a 30%-Rule, I might get EXTREMELY busy (and that is what I want).The 50%-Rule is a rule of thumb that says take 1/2 of rental income and allocate it to expenses. 

Hi fellow members of Bigger Pockets forum,My name is Franz and I'm from Iceland, I have extreme interest in investing in real estate but after analyzing almost 50 deals here in Iceland I can't see any price to rent ratio make any sense financially, and it's hard to calculate it because there are around 0-5 rentals in each town so it's hard to compare to a property that I want to buy and analyze.