Tacoma has a whole lot of different areas but in general, the Northend is nicer/more expensive and the Southend and hill top areas are cheaper/not so nice.

I was excited because the lot previously belonged to the apartment building adjacent, and will produce a nice income for parking.

Hi @Bryan Hancock it's nice to hear from local members.

I also own a condo in Providence that is now generating some nice cash flow for me.Any experienced flippers out there willing to cue me into some of the biggest challenges I will face will be greatly appreciated!

You could buy a nice home for say $40,000 and then spend $10,000 - $12,000 in renovations and it would be valued somewhere in the $70,000 range.

Robert,If the objective of your purchase is cash-flow, then appreciation matters little - don't get me wrong, it's still nice, but the success of the investment does not rely upon it.Matching your product - in your case, single-story (ranch style) duplexes - to your clientele ({nearly} retired, aging tenants who do not wish to contend with stairs as they grow old or those with mobility issues), whether done explicitly or intuitively, is the key to low turnover.We are considering a multi-family unit which is comprised of 25-row houses in a single story garden home format as it has an appeal to our aging population.

You guys did a nice job fixing it up.

Always nice to see another member from the NYC area.

Nice share, Michael Seeker !

There are a property or two I have found that I project a cash flow of about $500/mo.My other thought is this: I would be eliminating a nice asset I would have-the ability to get at $20k whenever I want/need it.