EricI've worked around numerous GC's, in my development days, who have been heavily involved in flipping for years.I would always ask for information from them, as what sells and what is worth installing.There is ways to cut corners to do things right, and ways to cut corners to do things wrong.For instance, new hardware and painting old cabinets (with good structure) you can save and look good.Other info (that relates to your thread) they all gave to me was this: The Man writes the checks, The Woman picks the house.Your house needs to appeal to the woman market.

There are non-numeric considerations though as well.

I've looked over it numerous times and it was sold for 825k on 12/3/10...

Well, little did we know, they were issuing numerous deeds of trust all on the same piece of property.

They record the A to B deed first and the B to C deed second.Now, there are numerous things that can go wrong.

He asks for a room and puts a Euro100 note on the reception counter, takes a key and goes to inspect the room located up the stairs on the third floor.• The hotel owner takes the banknote in a hurry and rushes to his meat supplier to whom he owes E100.• The butcher takes the money and races to his supplier to pay his debt.• The wholesaler rushes to the farmer to pay E100 for pigs he purchased some time ago.• The farmer triumphantly gives the E100 note to a local prostitute who gave him her services on credit.• The prostitute quickly goes to the hotel, as she was owing the hotel for her hourly room used to entertain clients.At that moment, the rich Russian comes down to reception and informs the hotel owner that the room is unsatisfactory and takes his E100 back and departs.There was no profit or income.

Let’s hope he proves to be as valuable to us long-term as he was during our first 2 hour meeting.So for the last few days we’ve been pouring thru numerous listings, most of which are bank-owned properties, some multi-unit rentals, some SFH rehabs.

Unlike dealing with a PM who runs numerous different properties and may not be able to give them specific answer.

I was not implying one should use cap rates to price the property for numerous reasons.

Rental properties is the first step to financial freedom, as it offers the perfect opportunity to earn passive income, while enjoying the numerous benefits that it offers via tax shelters.