So the market is fairly hot here in Colorado and I've been attempting to wholesale with limited results.

With the machines in the units, we command a higher rent; we use high efficiency machines so our water situation has not really changed (overall it has gone down, but we have made other improvements to the buildings; vandalism to the machines has gone down; the machines themselves are cheaper; and we are not paying the electricity or hot water.

And because of the hot market, there might be appraisal issue when trying to acquire a loan on those turn key properties.Thanks!

However, any other decent upside area in Columbus is scorching hot right now.  

Unfortunately, these are also hot areas, so you have to study your comps diligently, act quickly, and be prepared for multiple offer situations.

It was a hot market so I had to put $3K cash non-refundable deposit.  

I know markets are different, not clear how much investment I should reasonably allow myself to consider in hot markets or where I like a property but a 20% down doesn't work.

The homes have all been recently updated new hvac, floors, hot water heaters.

Shoot I was one myself ) this building will be 1 block away and cross the street from campus with all the bars and restaurants  the other new complex do have pool but I think the distance and little cheaper rent than other new building. will attract students more  2  the old buildings around it  all have evaporated cooling ( which sucks bad on really hot days down here )  our will have central Ac  3  I was thinking of building a gated capmlex  to give them little something different 4  will have  washer and dryers  on site ( coin operated )5 will have masters bedroom set up  each person has his/ her own bathroom  6 if there is room left on the lot we can put little shade stricter and build it grills  Around us  1 bed room renting $450-500  2 bedroom  $685   In the old building  I was thinking of renting 2 bedroom -735    And 3 bed room  for 850    1 bedroom for $535  Project cost with lot will be about $1.2 -1.4    20 units will average at 680 a month $13,600 a month gross

And as always without concrete proof, I, like most others here will just be blowing hot hair.