The work involved in finding the deal is the same and the returns is higher.Regarding your question, instead of going for average cap rates, I would buy a property if it makes sense financially in a location with solid job growth.

PMI is wasted money and you would get the better cash flow with little less COC.

Seems a waste of time since I'm doing the work, but if it's the rules, it's the rules.

The place looks pretty solid outside of a 70's tile kitchen counter and somewhat sparse landscaping.

I found that a thinner margin for a rock solid house makes better long term financial sense and has a much lower hassle factor.

Things like Legal, Accounting, Marketing etc. can all be things that you would want to account for even if just as a miscellaneous/fudge factor.That being said with that giant vacancy rate and pretty healthy maintenance line item the numbers look pretty solid.

Craigslist is hit or miss; as you will get bombarded with tire kickers or other new wholesalers that will waste time.

Well that makes me feel like i just wasted 4 hours of my life.

I think the advice you've received is pretty solid (i'm kelly's partner btw).

Ive got solid contacts in the Dallas area, and have bought a few rentals there but Im kicking the tires on expanding my businessThanks!