Credit rose from 500s to 700s (cost $$$s).

You’re going to pay at least 10-20% in willing costs, vacancies, make ready, concessions, buying costs, new vacancies etc. 

Here are two real world strategies that I used with my clients:Success story AStep 1: Bought a condo for $175,000 in 2013 in an up and coming area that cost less per month than market rent.

We aim for a target cap rate, say 6%, aligning with our investment strategy.Here's an example: if a property yields $1.2 million in income and costs $10 million, resulting in a 6% cap rate.Then there's the adjusted going-in cap, factoring in potential changes in income or expenses.

This should be just a simple optimizing return on cash or cost/bnefit issue.We can all earn 5% risk-free in money market MFs and accts right now. 

Divide how much extra monthly rent the improvements may lead to into the $30k cost to determine how many months it will take to recoup the investment. 

With 5% down conventional loans and FHA loans, buying a property with two or three units can cost less than $30k out of pocket.

I think I’ve struggled not focusing on the benefit but the cost part of the equation.  

Prime recreational land costs $$$ but burned, scarred and neglected land that is hard to access can be found for a reasonable price.

It might cost you 10 or 20 bucks to join a meet and greet, but it can be a learning experience.