We used to provide properties for our clients for  about 35- 40k with 25% net caps, now avg PP 63k, with 11- 15% net caps, Rent are in the 2% rule, some higher . 

BTW, the one blanket loan counts the same (5 mortgaged properties) toward your 10 mortgaged properties Fannie cap as the 5 individual Fannie loans. 

We've had several years of pretty rapid appreciation and now interest rates are up, there's a lower limit on mortgage interest deductions, and a cap on SALT deductions.

Hi @Langston Washington,Very difficult to flip a condo, but it works really well in the BURRR strategy.

The city of Cleveland will only bill the property owner, which makes it difficult to pass on to the tenant (from what I've read).

Tried it very seriously a few years ago - given all the scamming that goes on in all aspects of life these days, it's massively difficult to get people to believe you're legit and to work with you.

It's difficult to juggle "weather, inspectors, subs, suppliers" and keep the guys busy all the time.

Finding a private lender to put down the 3% for you still does not give you any cushion for repairs, cap ex, etc.  

As some of you may know, Maine can be a difficult state.

If cap rates are accepted valuation 6% rate of return, then there is a basis for that conversation as a starting point.