Both of your assumptions above are pretty conservative. 

Or sell the pretty pictures in the brochures -- not sure how he's doing it, but he's showing those new houses on his FB page on a pretty regular basis.I was also surprised to learn from some BP friends over in Beaumont that they are getting higher returns on their rentals than we are. 

I am pretty darned aggressive, but what you ask is well beyond the pale.I have taken SDIRA's through audits and Tax Court. 

Orlando has some pretty cheap houses and 149k with ARV of 249k does not make sense to me.

However, recent growth has started to level off and I found this article to be pretty interesting.

Single family homes are pretty simple operations that most people understand pretty well.  

(Pretty obvious I guess, but since bank is not requiring here, I'm a little confused).

As I live in a pretty low population area, there is not and has never been an organization like this. 

Once you have spent many years dealing with people and working with the public, you pretty quickly get a good feel for a person - if you don't, you better get a good property manager or you'll be shook out of this business quickly. 

I'm pretty much debt free outside of my 2 mortgages so I'm not in a financial bind...but it just seems like a bad idea to pay so much for space I'm not using.