Closed on properties #4 and #5 today
Had a six weeks gap between the first three and these two. The first three SFRs are all rented at or above the income assumptions with no surprises so far.
#4 is a Duplex located in Grandview, MO. Both sides are vacant but it is in good condition and should rent for $575 a side on a $60,000 purchase. Plus it has a huge back lot that I may be able to build on later.
#5 is a 3 bedroom SFR raised ranch with two car garage. It comes with a tenant, at below market rent. But it will be cash flowing from day one at $45k purchase. This one is in South Kansas City just off 470.
I have #6, #7, #8, and #9 under contract. 6,7,8 are all 3 bedroom SFRs close to move-in-ready condition. #9 will be the first rehab project, and I may try flipping it with rental as the second option.
I've screened hundreds of houses, and looked at 50+ houses and had several deals fall through, some due to inspection issues. But overall things are going well and I feel pretty good about what I've bought. My property management company seems to be working out as well, which I know will be critical to long term success since I'm not managing these myself.
I'll check back in with an update in a month when the next batch closes.