Greetings,We have an investor interested in the following property, do you think he should buy:30 units 2/1 with washer dryersAverage rent 1225$Cost is 115k per unit950 sq ftBuyer will be getting 30 year financingClass c/c +Built in 1970West Palm beach low rise apartment not in war zoneWhat is your feeling of rents going up or down in this area?

How far to the beach?

Delray Beach FL you're looking for?

I recently moved to Virginia Beach in the midst of taking my GA real estate License.

The property also came with private beach rights as well, making a perfect Cape Cod home for the price. 

I have called West Palm Beach home my entire life.

We live outside of Austin so will put the home on STR for just random weekends if we want to have a stay-cation - paid for by our guests.Our home does rent for around $400/night so the caliber of our guests has been pretty high - executives on golf trips, families on vacations, so that likley is key as well.We just purchased a full time STR at the beach and plan to visit there often. 

@Jonathan New I agree with @Brian Burke and @Dan Handford ....I need a POF for a 100k beach cottage but not a 3.4 million apartment building..haha..or a 2.2 either.  

update: I've purchased the lot in hernando beach a few weeks ago.

How would you approach an investor for say, only the DP and improvement costs, and the return is on the rents for say, 3-5 years, instead of in year 1.There is a silver lining.