That gives you time to find/buy/create good deals.

I am a real estate agent and investor based in Columbus, Ohio but also have done deals and investments in Cincinnati so I'm familiar with the market.

unless you have some kind of advantage, or creative strategy, or both (boots on the ground, sourcing quality off market deals, MTR or STR, house hacking, etc.) there is really no market where you can get a few hundred plus in cash flow with current off the shelf rates.you should 10000000000000000000% not buy a random property in Memphis because an Excel sheet tells you you will make $212 a month on it.if you want to go to Memphis and spend a few weeks there, drive around, meet PMs and other investors, and really lean in - go for it. 

@Robert Ellis  It wasn't free but it benefited everyone to structure the deal that way.

Again, that's the kind of tenant base you will be dealing with. 

That said the new people moved in and they are demanding that I test the property for meth because they say the previous tenant's boyfriend is in jail for meth dealing. 

My chief complaint is the lack of communication and an actual project management plan... thats good news I know some lenders get pretty concerned when construction is so slow.. but sounds like a great deal and I know RTR will be there every step for you guys.. did not realize they were the conduit for this transaction.

You are competing with investors in those markets who know those areas so you have to outwork them to find a deal that they can't find.2) Network in those areas. 

Purchase price: $204 Total transaction was $204 million What made you interested in investing in this type of deal?

With the higher inventory we are seeing and the rates staying where they are, I think it's a solid time for a buyer to get a deal from a seller that is struggling to get their pricepoint due to too much listing competition and high buyer skepticism.