More people are into re using stuff but it takes forever to match pieces and often needs re finishing etc.

If they don't understand cap rates and how to use the factors that drive cap rates to determine value they may just be shooting from the hip.

Sounds like I should definitely factor in more hold time and keep an eye on the exterior work.I imagine you can put off landscaping and curb appeal though ;)

Traffic/congestion may be a factor.  

I've heard of that strategy in the ABCs of Real Estate Investing and also in The Book but my realtors (my brother and father in law) had advised I did it the traditional way of taking forever looking at it and offering etc.

I've ran the number a million ways but maybe there's something I'm not factoring in. 

I'm a newbie myself but the main factors are the purchase price and neighborhood rents.

I know that each area is different and it's impossible to isolate one factor.  

HI Tom,I've done plenty of these on the lender end and investor end as well.If you go the FHA route which is the least down payment option you'll only need 3.5% down and will need to adhere to:- min 3 months cash reserves based on the proposed monthly payment- gross rents on all 4 units X 75% factor must be equal or greater than the total monthly payment of the property (PITIA - I found out this not include HOA in this formula as we had a fourplex with a HOA once too).

Oooook, so let's see if we can do that AND hack your FICO score at the same time:Remember that credit utilization ratio is a FICO score factor, and it's recalculated every month or so.