I guess I was way off

Lori, really not possible, a market cap rate is only used by an appraiser as a rate generally accepted by other investors, which is nothing more than an educated guess of an opinion as actual cap rates are historic and only applicable to each unique investor.

So I guess is it worth to save 1k or spend pay that to have more freedom.  

My guess is that you ARE grossing closer to 24% than 16% on the deals you close (or should try to be anyway), which means you ARE closer to maintaining 50% of the amount that is in it for your Investors (4% vs 8%), forever!

My friend doesnt think the current tiles are all that bad...i guess im still an emotional landlord instead if a logic one.To those who read my panicking post, I am still looking for a tenant. 

Guess what?

I guess if I were to do it again, I'd start contacting contractors the second the I get the message that my offer was accepted.

.- Yeah, I guess you're right. 

Originally posted by @Steve Babiak:@J Scott - you might want to look at this post:https://www.biggerpockets.com/forums/93/topics/112...Interesting...sounds like Bill is guilty of predatory dealing as well...I guess he got away with it...  :-)

I am guessing a lot of owners just collect the rent, defer all the major repairs and expenses, sell and pass them to the next buyers.