@Ry Eikleberry $450k will buy you a decent "B" quality fourplex that should generate anywhere from $3,400 to $3,800 per month in gross rents.

Quality of life is more important (IMHO) than quality investment market.... 

A property manager typically has long-term relationships with a variety of vendors that do quality work for a fair price and are responsive.

It takes you from slow to grow in your investing journey and allows you to scale a lot faster in the business through high quality relationships in your local area. 

Outstanding loan as of today: around 168,000, and they are taking an additional depreciation every year.


So let's use 4 units rented cap rate of 6.36%.ROI 23.37% because there is zero money downAnnual Cash flow -9347 (-779 mo)If you were to hold it for 5 years and sell it you would make 21,380.Year 5 appreciation 690,000Year 5 Intrest paid 87,346 ; principal 68,225, outstanding balance 546,775. 

If you were to buy the whole company, you'd get 53 good quality apartments at $9,279 a 'door' net, per market capitalization.

I am capable of doing the labor required to rehab this unit, but I'm more concerned about the quality of the material going into the renovation. 

I aspire to be their teacher and a positive role model who provides quality time.

I've managed to find a couple of REALLY good deal but was not able to get funding quick if at all due to a lack of cash reserve (my own money) and the lack of experience, therefore, I've missed out on a couple of outstanding opportunities.Can anyone offer some advice or insight on such a situation?