As soon as a life event happens with that tenant they tend to start trying to renegotiate the rent lower, move somewhere cheaper, go buy a house to own directly,etc.There are some areas where renters are outpacing supply so landlords can almost do whatever they want in charging rents ( if rent control is not in place) but those are few and far in between on a national scale.Just think of if you are top market rents and do your purchase projections based on that assumption what happens when the market shifts and rents go from 1,200 to 1,100?

A few things about modular for your project. 1.

Also local architects that have worked on similar projects are a good resource and can help guide you through the process.

I am hoping to use the current bid so I can continue with my project, but if not that is fine. property is located in Brewerytown section of Philadelphia and is over 2k sq ft.

Start with a project that needs only cosmetic work, in a nice subdivision where the comps are the same.

It need EVERYTHING... any handymen or contractors need a project for a few months?

I have not made the transition that you are making but my brokerage works with a number of contractors that also invest and I can say that deals are made even sweeter when you can manage a project yourself and get all your materials at cost.

I'm branching out to Chattanooga for a potential project and I'm in need of recommendations for any reliable contractors.

If you wanted to do a 1031 exchange of 3-5-10 sfrs into a new project this could be the ultimate setup.

@Chris WalshIt sounds like an awesome project.