Do tons of research to spot swe­et deals.

Whether it's renovating older properties, converting unused spaces into rental units, or adding amenities like laundry facilities or parking spaces, there are numerous ways to increase the income potential of a property.

I am looking at this as a cash flow play and would like to know if this neighbourhood has the potential for rental hikes around 3 to 5 percent in the next 5 years?

I think Allentown and Scranton both have potential.

This is an expensive place and it's not drivable so everyone needs to arrange and pay for airfare.This is tough.When you did your research prior to purchasing, did you find other similar properties that were already successful or is this more of a hope everything will work out?

If you’ve done the research and it’s a good growth area that’s not being overbuilt then may be worth it, but we consider if it would cash flow with the mortgage either way.

In a similar vein, we look at occupancy comps in the area and consider the potential that a slightly more unique property might incrementally do better in terms of occupancy rate and by how much, etc.

This deal was found through a wholesaler who has been very active with me and this property is potentially for sale. 

Depending on how clever the current tenants are, they could potentially drag it on for lot longer. 

Here are a few potential types:* House hackers trying to figure out how to do accounting (I fall into this category, as I live in one unit of a 2-unit property)* Real estate agents who need accounting software, or transaction management software, or marketing software (I also fall into this category)* Landlords who self-manage and want something to help them with marketing, tenant management, accepting rents, etc., and also need bookkeeping/accounting software.