At a 50% Expense ratio, you need a 6 Cap to achieve 1%. 

But that first deal will give you the confidence to buy more deals in the future and to build your real estate empire or achieve whatever goal you want to achieve.

@Justin Thorpe not just that, but students in top schools all over the world dream about coming to California (and making it big), which is the epicenter of innovation - something that is very difficult to achieve by another state or country.

Using the sales in the area to determine what specific renovations are necessary to achieve the desired ARV is the key.  

I can't wait to see what I can actually achieve in 2021.Adam

Money can be made, 2% rule can be achieved but other problems will arise.

It’s within me, I don’t doubt the level of achievement one can reach.

My question is: will pursuing a part-time career be a distraction from our primary goal of being investors, or will it help us achieve our goals?

-Understand what your goals are and set target dates to achieve them.

The main people I see wanting to invest in Miami now are foreign investors and people who just want to own a slice of something in Miami.As for Charleston, there are still pockets where you can pickup something affordable, put in some sweat equity and achieve a decent, double digit cap rate.West Ashley is probably the most notable place to mention which is gentrifying quickly.