@Jonathan Twombly That's incredible!  

I just put 5000 to be conservative but owner states he just put in new hot water heaters, roof is in good condition, the pics of the yard look like it is really well maintained, etc  The detached garage looks old but has a brand new roof on it and has been painted to match the apartment building. 

I'm an aspiring multifamily investor in Houston, but the market is too hot right now. 

I have 8 units right now and I'm waiting to see if those percentages are accurate over a 2-year period.The scary thing is that as you adjust those percentages up and down, you can make your numbers look incredible or dismal.

I have a thought that's sort of along the same lines as far as looking for "hot" markets to buy whatever in, sure there may be certain ones that get "hotter" than others at times for a wide variety of possible reasons, but I'd also say that there will be a long list of markets that you will do just fine in, provided you handle your end of the rental business as well as you possibly can.

Charleston is a hot rental market.  

Those are the only things that I am worried about but with 6 figure spreads and the intangibles of a hot neighborhood it may be worth the risk. 

Thanks to everybody in the BP community, it has been an incredible tool, and educated me immeasurably (especially the podcasts!)

HI Tech incredible weather lifestyle and all the other things that make the Peninsula one of the greatest places on Earth to live...Not to mention the 49ers Giants etc etc.

In January 2014, I turned the keys over to the new homeowners of a ground-up custom built 4500 sq ft home in record time, considering the incredible amount of rain we have had.