Drive for the fun of it?

Cheaper isn't always better so you need to consider many other factors and compare many managers.You can start by going to www.narpm.org and search their directory of managers.

Byron W. 693 can get you a loan - there are many other factors as well.

I don't know much about that market but I have worst situation here in my neck of the woods, so I would say 8% cap with 11% COC is much better, but then you have to weigh in other factors and see if you can either increase the COC by lowering cost or increasing NOI thru some value add.

This ended up being harder than I originally expected due to a number of factors, but probably the biggest one was that I had built my business up so quickly and had completed so many properties before I ever filed my business' first tax return.

those numbers would be too close for my comfort. let's say your purchase price is $75k, closing costs of 6k, fix the roof for 5k factor another 5k in other repairs and holding cost while work is being done by the time you refinance for 110k and pay the refi closing costs of 5k you'll have made 14k on the deal, and that will be 6 months down the road.

Consider these:Knowing why it’s an abandoned project is a factor.

Factor in other expenses (repairs, taxes, insurances. 

I'm sure if you were to ask most investors at which point in the investment property lifecycle they break-even and truly start cash-flowing they either haven't figured that out or don't know how to calculate that number or what the true IRR on a property is going to be because they think once they close escrow with 20% down they are cash-flowing on day 1.When @Chris Seveney talks about the IRR for a long term buy-and-hold, I factor in a rehab at year 15 of a 30 year hold, whether it's due to wear and tear, or possible change in interior styles to remain competitive in the market.

You (generally) are trying to factor in “personal enjoyment” or “personal use” as your upside.