got under contract for 47,000 in Cedar Rapids but missed a few things first time through. it's on a slope concrete block foundation small kitchen is added on and no foundation at all.floors are not level the floor plan is all wrong it's a 1900 build don't think it had indoor plumbing originally. so total gut job. might add I'm using hard money on this.now the good points it's on a1.13 wooded acres lot, and houses in neighborhood with 1/4 acres lot about same size age etc are listed around 200k. so any one know of a foundation contactor in CR that does that work?

My question is for those that buy MFRs in Utah, how often do you find property that fits the one percent rule and do you follow it?

As long as it fits in with your cap rate goals you should be okay.

Many of the professionals here are also investors and are open minded about deals that fit what they do.  

It fit his criteria, I called him up and said I’ve got a good news/bad news scenario.

However, most of these neighborhoods are very rough and run down.

I was just wondering if anyone invest in the C, D, F neighborhoods (aka "the hood").

Is the neighborhood that bad?

Our above gentleman are absolutely correct in what they’re saying, but nothing beats driving through and laying eyes on the neighborhood just in case it’s one of those hidden gems.

Its a low income neighborhood and the tenant had some financial hardships in the past which I have agreed to overlook in exchange for last month's rent up front (rather than collecting just the first month and a security deposit).