Especially in a city like Milwaukee where a lot of houses are between 60 and 120 years old.But we also have a chronic housing shortage, which is driving up prices and rents.

For example, on the flips we lend, this means Purchase Price plus Rehab Cost should not exceed 75% of the After Repair Value.

.)- 10% for future property management -10% for vacancy-10% for CapEx-5% for repairs and maintenance-5% for lawn and grounds keeping-0.5% of purchase price for PMI based on my credit score For a house hack, is this too conservative?

@Jonathan SchwartzIt is assumed that the NOI will increase relative to the purchase price of the property, therefore increasing the terminal cap rate.For example:100k NOI @10% cap = 1M valueA 3% increase over 10 years =134,392 NOI134,392 NOI on 1M value = 13.4% CapCommercial property doesn't appreciate like residential properties.

The lot can be split and another property can be built that would make the deal worth it for the right price.

Check out places very well before you buy, looking at costs, checking the place top to bottom, looking up who owned it before, comparing prices in the area, checking out tenants, and looking at the legal stuff.

If purchase price doesn't make sense in San Diego, rent there and save the money to invest in a market you know and works out on paper. 

I found a company with Airbnb trained VAs for $150 per listing per month (and price decreases with more listings). 

Do you know anyone who is investing in the debt of distressed office buildings, and then buying them at a cheap price once they default? 

Get familiar with the prices in that area so that you can recognize when there is an outlier.