This property is 60 years old and in a nice neighborhood, located within 1/4 mile of two private schools and a university.

I'm a heavy value add investor and lender in the southeast and midwest.

I am following the same strategy with 50 units or under in the South East to avoid competing with large investment firms and to find the more "mom and pop" operated properties to add value, refi to return the majority of investor capital, and then hold.

I can set any phone number up to temporarily have access to the home and see if the door locked when they left...from 300 miles away. 

Being about 5 miles South of the OP and a lifer here in NJ and the NYC Metro area, I get it.I dont know wt...uh....heck the Griining Hyena thinks he is doing.

So if you do relocated at least 100 miles away, then you can buy another 2-4 unit using FHA financing (3.5% down), without having to refi out of the first one.Hope that helps, and best of luck!

We’re mostly in the southeast, including Georgia, Florida, Tennessee, Texas and soon to be Arkansas.Happy to connect if you have any questions!

They would come to you to be more out of the way but not hike a mile  to get there. 

Hello Jonathan, I agree with everyone else, price is generally the issue, but I would also encourage you to research all the homes sold within the area for the number of days your homes been on the market (expand your radius by at least 10-15 miles) so that you have a firm understanding of the types of homes sold in comparison to your home. 

I am thinking perhaps .5% of the sales price to as much as 1% of the sales price if I drive over 50 miles (one way) to visit a property.