I'm moving forward finishing construction on my 2/2 in Old Colorado City with the back up plan of doing corporate or travelling nurse rentals if STR's are shut down.

If we rehab the properties right I'm projecting us to have a bit under 2 million to start our buy and hold strategy (assuming the market doesn't bottom out before we finish selling).

I would use Zillow rentals not Zestimate and CL - if you're watching your markets every day - you know what's going rents for what finishes and amenities.Zestimate are counting rents by zip and beds/bath.Doesn't count garage or other important features......so I'm only using real listings on CL, Zillow and MLS

In the late 1970s the price seemed high (and it was considering the interest rate), in the early 1990s the price seemed high (and it was considering the interest rate), in 2006 the price seemed high.  

Furnace goes bad, you switch it out, chimney goes bad, easy to line it, the brick's modern and hard and so is the mortar, gas lines are minimal and limited to basement and kitchen above at worst, and all the interiors are finished using materials and measurements easily compatible with more modern housing.

I live in North Jersey where taxes are so high and inventory while increasing a bit lately is still low.

Find those who are late on their property tax bill is past due but before foreclosure and make them an offer that includes what they owe which you will pay off. 

Have others had similar experiences lately?

I wasn't finished yet but I accidentally pushed the "post reply" box. 

.* Overall timeline (including build out of new units) runs to late 2019.* In the end, the #'s pencil, but capital available for rehab will likely result in slower progress toward until rehab completion.And now the question(s)...1) Does it make sense to refinance at some notional midpoint in the rehab?