i gather it's still riskier to buy out of state compared to in your own backyard.  3.) not really a con - but weighing against buying in AL would be that we still have 9 or so months before the move... we could still look and purchase here in our backyard as opposed to waiting...though the deals we see here don't meet the 1% rule, while meeting the 50% rule.  

What I keep finding out is that my target price is always at least 20% below seller's asking price.Here are my rules/metrics:total economic loss after property is stable is 12% (15% in lower quality areas)incremental rent growth after the property is stable is 2%expenses grow by 2%/yearproperty tax is 90% of the purchase price multiplied by a local tax rate (usually doubles tax from whatever seller pays)payroll $1000-1200/unit regardless of the property size (brokers claim that 30-units don't need payroll but I don't believe them :-) )reserves of $300/unit counted in expensesexit cap rate is 100 basis points higher than current cap rate (e.g. exit at 8% if current cap rate is 7%)cash-on-cash ROI 10%+ starting in the second year; first year may be lower if this is a value-add5 years total ROI (assuming sale) is at least 100%IRR 15%+ over 5 years (al ROIs are net to investors after 20% sponsor override)I can adjust may metrics to some degree but in order for me to get to the seller's acceptable price I have to adjust most or all of them to unsustainable levels.So, what should I do other than keep underwriting and waiting until the market turns down and all of a sudden my numbers would make sense for a seller?

Upon COE, in your introductory letter, I would produce the new 'Rules of the House' and mention each item. 

@Mario Rossi,Like @Johnathan Anderson mentioned, MIG (http://www.memphisinvestorsgroup.com/) is definitely the best place to plug in to meet other local investors.Our next meeting is two weeks from tomorrow (Thu 10/10/16) from 6-9pm.  

Mainly to have access to the MLS and not wait for someone else to write up my offers.

I can't wait to start making connections in the Atlanta area and hope to be part of many success stories in this wonderful city.

I don't want to wait that long.

Did I mention i was commission only?

Unfortunately, the big bank I was dealing with waited until the last minute to give push back, so I would need someone that is quick.

I currently have a offer in on a investment property, just waiting to hear from the bank (foreclosure, taking forever!)