I developed a calculator in excel that adds the rehab cost to the purchase price thus adjusting the cap rate, if the rate isn't where you want it to be lower your offer or don't make one.

I would take some cash out and purchase a 4-plex someplace where prices are lower.

Then they gradually lower the price.

Know the market is it a 10% cap rate market or a 7% cap rate market or lower?

Raquel Singer I noticed that about the lower end areas of Miami.Prices have gone insane ,even from just 2015 it looks like prices are 3x what they were .

That being said as an engineer I can also tell you your AC can only cool so much, due to thermodynamics lol.So keep the AC unit and tell your tenants that if it’s hundred plus outside it’s not gonna get much lower than probably 72.

@Tavares Lumpkin HELOC would be good option for down payment because of lower  or no closing cost but interest rate will be higher so make sure you have plan how soon you can pay off.

I told them that they should lower the price of the home, but they refused.

Long story short, I'm drawn to a few of the MSAs in North Carolina for a number of reasons: population growth, job growth, climate, taxes, lower acquisition costs, and I'm a Jersey boy so I like the East Coast. 

Charges about 13% and doesn't get me any bookings unless I lower my price below airbnb prices.CBHO no personal experience but I've heard they charge a lot up front and don't deliver results.Furnished Finder - good if you have affordable housing for traveling nurses.