Anne,I have been extremely frustrated with my property manager in Indianapolis.

Units are in decent condition, one has been cheaply rehabbed the other two are extremely outdated.

For your first couple of projects a little common sense will go a long way.

This is only something you do locally, and that I assume would be the DFW area for you – max.The rest, such as the paperwork and avoiding usury, is extremely mechanical and can easily be covered by an experienced attorney and mortgage broker, whom you’ll need.

Eventually I want to use debt to leverage and I was wondering if I should seek financing now, and not burn a lot of cash since I heard cash of refi's are extremely hard to do right now.

Unless a close friend is yout agent you have an extremely rough time getting them to understand wholesaling, the only time I every flipped working with a realtor I was forced to do a simultaneous closing because her broker wanted nothing to do with investors.

They are a bit extreme, but their methodology will certainly give you the flip side point of view about how to run your business.

It was extremely tempting, but the age and historical details on this place made me too leery to consider it.

Considering that most posts in these areas bring hundreds to thousands of views, I'm feel that it is an extremely good deal.

My quad's come out to 64,000 a door for 850 to 950 a month in rent on my apartments.I don't look at it only from a cash flow perspective however.The area I have the buildings in is an A location prime for redevelopment down the road.Mike it sounds like your local market is competitive with investors and your margins are thin.On one hand it is good to be in a thriving market where demand is strong because usually supply is lower and the amount of rentals and new development for multifamily cannot meet demand.This helps rents grow at a rate that outpaces utility increases and inflation.The downside is it can make some investors overspend on a property because they feel good about the market.I looked for over 2 years before I bought something.I said many times those buyers were nuts.I tracked the properties and many investment properties after purchase just 1 to 2 years later went into foreclosure.They bought at such a price that it wasn't sustainable.I look for a 10 CAP or better on my purchases.The problem is if you someone who has only gotten 1 percent interest off of a CD or Treasuries or they have gotten beat up in the stock market.Those types of buyers jump up and down to get a 7% annual CAP return beating out your offers everyday of the week.By in large many buyers like this can be lazy.They only look in the MLS for listed properties.Value can be found marketing to sellers that are not on the market.They don't want to make public all of their problems ( I know it is common knowledge of default at some point but this is their mindset ).