I target my reserves at a minimum 3 months rent.

I have family in AZ, CO, and UT so I'm targeting those areas so I can leverage their help.  

If your target is deceased, find family members by subscribing to genealogical sites like Ancestry or Family Tree. 

Specifically, we are looking for: Property: a small multi-family (2-4 units) one unit to be at least a 3 bedroom / 2 bathroom stand-alone house which we would occupyadditional unit(s) which we will manageLocation Options: While we’re open to a number of possibilities, here are the target areas: the South Bay area (Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, Rancho Palos Verdes, Lawndale, Gardena, Palos Verdes Estates, San Pedro, etc.) the Pasadena area (including Alhambra, San Marino, La Crescenta, Montrose, La Canada-Flintridge, Glendale, etc.)some areas might also be nice and/or on our wish list, but are secondary to what's listed above unless we found a great opportunity (Santa Monica, Pacific Palisades, Burbank, Sherman Oaks, Studio City, Santa Clarita, etc.)Financing Options: We’re open to a number of financing options, including partnering with an investor, using private/hard money loans, and other creative financing suggestions.

@Stephen Nicholson - excellent advice hereBe a disciplined investor by sticking to the numbers that make financial sense for your target level of profitability and always maintain walk away power in any deal.Sometimes these deals will comeback to you but chances are they won't as the seller has an unrealistic view of his asset's worth, is no hurry to sell and someone with less experience than you will come along and pay him over market price at some point.Rick

All good targets, although the spillover heat from Seattle is warming them up a bit too.

HUD's been out of the business of funding landlords with money for decades. that's one of the areas where the training comes in: influencing landlords and aspiring 'vendors' to learn how to form the state, county, city, community, private & corporate/institutional partnerships that lead to a HUD Sec. 8 grant award becoming available as a "program". if you for instance want to charge elderly tenants $ 2,400 a month for a two bedroom dwelling you can propose that criteria within your Sec. 8 grant proposal as a 'program' vendor. a lot of military veterans that are mildly disabled have allowances for that target range of rent with a live-in home care attendant, or home health aid assistant. most well known regional markets have 5+ year Sec. 8 waiting lists of very desirable tenants that you can cherry pick to your heart's content, featuring all manor of financial circumstance. they range from homeless to affluent with interim insolvency due to quite practical reasons. divorce is a very prominent scenario. a growing wave of real estate heirs are among those Sec. 8 waiting lists in more and more strategic regions. you may find that interacting with more recently credentialed occupancy certification specialists can better acquaint you with the actual yield(s) that would be available from the wide unrelated contributors to a potential Sec. 8, or locally subsidized program military bases also circulate routine information on what certain types of housing is worth to their ongoing efforts for key time intervals. their veteran G.

If you targeted an area with working professionals instead, you might have less turnover and find a few people who stay 2-3 years.The real question to ask, since you plan to live in the building, is whether YOU want to live next to college students. 

Perhaps a 5% bonus for meeting the target list date.

Could be CLass A, but you didn't share what the ARVs are.Most investors finance 75-80% of a purchase or do a cashout refi to BRRR it.Class A properties are almost impossible to cashflow with, especially with +7% mortgage rates.Class B, you're lucky to cashflow these days, but can do it if you buy wisely.Class C is what many investors are focusing on currently as they can cashflow from day 1, even with +7% mortgage rates.The challenge is most investors targeting Class C for cashflow, don't take into account the corresponding lower-class tenants and all their associated challeges.