Unit 2: 2 BR, 1 BAAsking price $329,000 ($150 sq-ft) with other duplexes in the area are going for $120 sq-ftProperty has been rented out to local college students who pay individually generating rental revenue of $3,000 monthlyIf partner and I could purchase and not upgrade/rehab, renting to same college students then estimated monthly cost with debt service (assuming 4.5% interest rate & 25% down) is roughly a few dollars shy of $2k leaving a net profit of about $1kConcern is for CoVID and schools moving to an on-line model and force the $50k rehab/upgrade and possibly only brining in $2700 monthly which would only bring about 6.6% cash return ($78K down payment + $50k rehab cost)Real estate market in Memphis is rapidly progressing now as it is following Nashville’s lead

I would pass on this applicant, unless second chance is part of your business model, which means you charge double deposits and slightly higher rents to make up for inevitable late rents

On the other hand, if 4 out of every 5 deals you do like this falls thru leaving the Seller empty handed, that indicates this is a bad business model and you'll quickly ruin your reputation as the guy who doesn't close deals. 

Mobile homes -- for the most part -- are all about affordable housing, so make sure not to "over-remodel" a model home.

For example, I know softwares like Argus are reliable cash flow modeling softwares that some companies rely heavily on.I know it’s an oversimplification to simply say “Just make an app for that.” 

This is pretty much exactly our business model here in St Petersburg, FL (Brokerage > Property Management > Rehab & Reposition)So they do exist!

Our model is SFR.

Honestly, skipping straight to organizing my network and getting ready to crack out my first BRRRR while I'm waiting for my business to settle.. not a bad idea for sure. i do plan on moving to multifam eventually.. big fan of David Lindahl so far and his super successful model.

The problem is rental estimates, Zillow's are garbage and unless you are building a brand new model for estimating rental prices that is better than Zillow it just will never be accurate. 

I'd go with Welcome Home Milwaukee, they have a flat fee model.