It's hard to be patient, but it can be rewarding. 

The investment looks like:- a 4.5% cap rate (assuming 30 opex ratio) -that would be debt service coverage ratio constrained so likely 40% equity and 60% debt-low cash on cash rate initially (2% )- high rent growth 4%+ - high exit sale priceThe property won't cash flow significantly but the IRR much higher than the cap rate of 4.5%It's a low risk, moderate return investment.You're still making money but you need to be patient and need to wait to harvest value from the resale.

The nurses are chasing after them to see more patients...lolThe patient to doctor ratio is way out of whack.

Be patient; find a place that will cash flow well and quickly without much reno.  

@David SongI'm a California resident and I've had excellent success in Ohio, but there are a few things you should do before you invest:Lots of due diligence including:a) the state and particular area, for me that meant finding a very highly trusted local PM / agent to tell me everything I didn't know which was a lot and still isb) have a full team there, PM, agent, insurance guy, tax/legal guy, etc.c) keep very current on all important trends in the state and locality.d) be willing to say no 20 times before you even consider acquiring new properties, and be very patient and prepared so you have the emotional stability to wait for the right opportunities and then the guts to pull the trigger when they arise.Easily stated but not so easily done.

Oh and these deals will come, don’t be desperate and try to jump on something that’s too good to be true, just be patient, it’ll happen!

But like any patient in a hospital full of medicines, we could be seeing a situation that doesnt reflect a stability and get worse quickly.I am taking the opportunity to reduce my portfolio, selling some properties and growing my cash.

At the end of the day it might take you 1 offer or 10 to get the right deal but be patient.

So many bad experiences... either I am too patient or too stupid for waiting so long.

We considered flipping several of our properties to student rentals but decided to be patient.