Current Data are:NOI using previous tax assessments is 37,000 per yearAnnual Rents are 43,200 per yearCurrent accepted cap rate for comparable sales in the past year is 10%With these numbers, the sellers are using a cap rate of approximately 9.25% BUT using previously ridiculously low property tax payments of 2400 per year.

I mean this is ridiculous.

If the numbers make sense even when you factor in additional maintenance for repairs, would you invest in it strictly for the cash flow as long as crime isn't ridiculously bad, or would you steal clear and why?

Berkeley multifamily properties have been selling for absolutely ridiculous prices this year, but I would prefer that option if the right one is available.

It may work for uninformed buyers but not for investors who do their research.Are you denying you made that ridiculous response.....doesn’t seem so.  

Now, I'm sure, they will try to charge late fees.I can't believe the ridiculousness of this!

@Wesley Merville It's nice to see someone with an intro a bit on the long side, though not as ridiculously long-winded as mine ;)With regards to mentors it's a pretty tough break for a newbie isn't it?

It's not a big deal, but seems a little ridiculous to me.  

Comparing the fundamentals from other states, I'm amazed why anyone would rent at all since it seems like a no brainer to just buy as it's ridiculously cheap to own!

You just want to make sure not wasting a trip + time + gas to look at a home with a ridiculous price and stubborn seller.