Two of the vacant residential units were already laid out as 2 bedroom units but the 3rd is large enough to be converted into a nicely designed 2 bedroom unit as well.Anyone who saw this building on the MLS likely dismissed the building right away based on the public record characteristics.

@David FernI don’t believe this is a real person based on private message I received.

When people look at occupancy rates, yea large MF may be at 95% but if you have a single family in a B or C area most tenants do not stay long and will have higher turnover = greater vacancy ratesAlso under estimating repairs and capex as well based on a percentage vs looking at life expectancy and cost.But it all looks good on paper

You'll learn more from doing one deal that is yours than you will reading about what others have done/might do.You'll build a whole new muscle group based on mistakes, missteps, failures and eventually, successes. 

Similar opportunity for cash flow on truck parking, its a great use for underneath power lines, limited exits though, solely based on parking revenue.

I’m 29 years old and I’m a newbie RE investor based out of Long Island, NY.

I am not able to pull the trigger purely based on student rental population.

But, here's the caveat based on my experience.

Most NNN properties are commercial which means their valuation is based on the income approach. 

Very early in Sept. 2020 I received the Repair List and was in total shock at the $6,800+ estimate with the understanding that the final bill might be higher based on unexpected expenses (more like $7,000!