Courts think of leases as shields not swords.Not trying to pound the point into the sand but I read this a lot (they have to pay till the end of the lease) and people really shouldn’t count on it.

They take beating in a beach house with sand, sun tan oil, drippy frozen pops, and spilled drinks (plus I allow dogs).

When I make an offer to the seller, I am very clear about the method I use to come up with the offer(s) and I include my profit in that calculation. 

Your best bet for SFH rentals at the $1million price point is STR in resort areas like the Outer Banks of NC or other coastal communities where houses at that price point are true 8-10 CAP and with mortars for 30 year loan or interest only you can easily generate mid range double digit returns without worrying with vacancies, collections or evictions. 

Trying to set myself up for a great retirement, not make a flip over a year or so.Myrtle Mike, what's your thoughts on purchasing a house vs an apartment near coastal?

I found a house I am interested in buying, and here are some facts:It is in a up and coming neighborhood but it has boarded up windows and collapsing fences, etc.According to the county tax assessor, the owners are five years behind on their property taxes.They have owned the property since 1977, purchased for about 12% of what I estimate the ARV would be today.According to Google, the owners seem to be in their late 70's and their son is a local real estate attorney.How do you recommend I approach the owners?

I'd also be interested in looking at coastal Mexico for buy and hold.

The market may be WILD like everywhere else (maybe WILDER), but the sand, sun and water are like NO other place in the US!

I think we're going to be in the 7's, 8's and close to 9% range depending on the LTV and credit score.Incidentally, priced an 18 unit building at 9.25% on a 30 year, no income from the borrower and the DSCR was still almost 2.0. 

My ‘line in the sand’ is that I want a smaller 800-1000sf house to cash flow at least $300/month for it to be worth it for me to buy.