It’s a great app for evaluating real estate investment opportunities for your clients.2.Homesnap: This is a great app for real estate investors that drive around seeking out properties that are not on the MLS, because it allows you to take a “snap” or a photo of a home with your iPad.

Starting off, (keep in mind, I just do lease options) I think my biggest struggles were:having the drive to "stick to it" despite not knowing what the hell I was doing.Being able to keep forging ahead even though sellers would ask me questions that I didn't have the answers to.Realizing that I had to "keep tweaking" until I figured out how to make the pieces fit for me.

It takes hard work and drive.

There are some fairly complex reasons for this, but in short, if space rents are too high, it drives the price of homes way down OR extends the payments out too far...

Check it out... https://youtu.be/2yqnpo4_KxE   Published on Feb 25, 2019Provided by www.cityofpalmdale.orgLand Banking is an excellent option since they have already done the research and buy land in bulk in the path of growth. 

There are investors that do this kind of thing with HUD homes as well.They sign paperwork at closing that they are occupying the property.Another component of this is fraud to a lender on a loan if you say you will be living there.The reason is lenders give certain rates to owner occupants because statistically you will fight much harder to keep a place you live in.If it's just a bad investment it is easier to walk away hence a higher rate and more down.This property from what you said is 2,400 X 12 = 28,800By half is 144,000 at a 10 cap based on 50% costs.The carpet and paint the bank put lipstick on it it appeal to a home buyer living in one unit and driving the price up.On a quad typically you could expect about 8,000 for the siding,4,000 for the roof,6,000 for 4 outside A/C units,if interior bathrooms and kitchens are outdated about 4,500 by 4 units is 18,000,then water heater and heater about another 6,000 total.So conservatively I have about 42,000 in immediate CAPEX.Every areas cost is different so I am just throwing mine out there.Now the other you say 20 quads total is what you need to worry about.If there are a bunch of short sales and foreclosures from vintage 2004,2005 loans then the new purchaser with a cash offer or a small debt service will rent below market to fill quickly and turn more or the same monthly cash as you.So you starting out at 600 rent monthly might go to 550 or 525 in your development.I have seen this happen.I have also seen even if your building is well kept quality tenants do not want to live next to the other buildings where landlords put in suspect tenants to fill up.Also some landlords with high debt service will drop rent instead of repair to keep tenants so they won't spend tens of thousands out of pocket to rehab.

Don't get down, if you have the drive then you can make it work.

Unless you live in an area too affluent for novice investors to easily acquire a starter property (in my area, that would be Beverly Hills, Newport Beach, etc.) find neighborhoods with easy driving distance of your home, maybe 20-30 minutes max.

Lane Ewert Once you have plans, one suggestion might be for you to get bids from some GCs that would deliver a "shell" to you, getting all the work on the lot done and hooked up, slab and drive way installed, framing, plumbing and electrcal in, siding on house and roof.

So, you could beat up the seller on price/terms for having to buy a death scene house and then rent it out for a while, change the color of the house, different landscaping, etc. changes the perceived character of the house from persons driving and walking by.