I’m not sure what the reasoning is behind this though. 

@Natalie Kolodij did a good job for me and was reasonable pricing wise. 

The EID is nice because in some ways it doesn't matter who sees it (within reason).

I have not seen rents in those brackets drop much if any what I have seen is them go hundred % vacant and cant refill them because construction came to a screeching halt and the laborers left and many or most laborer's are tenants.. this played out in PHX  AZ   Vegas NV   FLA  GA  places with uber new construction .. when it stopped so did the jobs.this is all dictated in my mind on JOBS.. you have jobs you have rent stability jobs or economy falters people start moving in with relatives or they simply up and leave and go somewhere else.. there is a reason U haul is a billion dollar concern. 

I forget.I think most do the sophisticated for a few reasons..

I understand this is the very nature of owner financing and that it's for the buyer who can't qualify for traditional financing for whatever reason, but don't those buyers usually show up with little cash available?

You'll make mistakes and figure things out along the way, but that's one reason I like construction.

What you describe is entirely reasonable.

For me Bayonne was a good mix of an area I was willing to live (near NYC, walkable, good parks for kids) and invest in (relatively high rent to purchase ratio and reason for appreciation).Happy to provide more info on the area if you have specific questions.

Some people who invest there do well, but we always have stayed away.The rents and expenses seem to be reasonable, but again it would really make me wonder about that price when Phoenix multi family is over 100k per unit these days for units that aren't fixed up.