Lot easier to move forward with a deal pre-approved then having to back out because you can't get your financing in order.Also, when you get pre-approved, you know how much you qualify for so you know the range of properties you can buy.

Since you'll be seeking financing ($10k down), my advice would be to get savvy on underwriting guidelines (especially Debt-to-income ratio) and make sure your credit score is in tip top shape.There are definitely markets in that price range!

I've bought several houses in downtown NN and Norfolk for 10k to 25k range and they rent for 700-900/mo pretty easily and some require minimal repair.

So, in order to make the numbers work for me, I had to purchase my unit in a certain price range.

Hi members,If you are not familiar with local area cap rates, what will be a safe range for it?

Houses range in 30-45k, and rent is 550-650 per unit (2bd).Also how easy is it for someone to get a loan on a property that is worth less than 50k?

Owners all in payment is $920/month and rent is in the $1050-$1100 range.

"A little guidance" could range from answering an email or two to hand-holding or taking over to make sure the project doesn't lose the investors money.I'd start out with a 50/50 (not 40/60) split with hourly rate for any of the investors time.

I always have several projects going in a pipeline and the after repair values of these projects range from $550,,000-$1,700,000, with $!

@Samia BinghamSamia - Would you be able to elaborate any more on the present setup you are involved in/have the option to purchase.This type of investment interests me quite a bit as locally it seems to be a niche that could be filled, I'm sure plenty of other locales this works in as well besides established markets.What I'm interested in, are rents paid (if you know the ranges possibly) roughly the space someone gets for the rent, what perks they get -- is there coffee, virtual receptionist -- how is the office decorated/set up - any furniture supplied by landlord, can you pay online, terms of leases, bathroom set up -- do the tenants have to pay for web access or utilities, housekeeping, any fights/spats between neighbors, what type of tenants make up the mix.Really any insight from your experience would very much be appreciated.