I have ~ $400k cash available and am willing to buy property with cash down, with a long-term goal of building my portfolio over the next 5 years. 

In the last month we have rented 5 of these.  

See below for some of our thoughts:Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Keep saving and stay focused on your long-term goal!

Jackson does have its challenges with population trends, but if your team on the ground is strong and your numbers are solid, you might be better off holding and keeping a close eye rather than making a reactive move.

These are great for attracting long-term tenants.

Quote from @Marc Shin: An easy one I used for a long time www.mysmartmove.com.

@Richard Helppie-Schmieder Great thread, thanks for sharing Richard.I’m not a flipper myself, but as a broker and multifamily investor here in Honolulu, I’ve seen a few things that help operators scale beyond the one-off projects:Pre-negotiated contractor pricing for common items = predictable margins and faster timelines.Standardized design packages (2–3 finish sets) = bulk ordering + a recognizable “brand.”Exit flexibility (flip or rental refi) keeps deals profitable when the market shifts.Capital efficiency: some pool private equity into small funds or short-term syndications, similar to what we do in multifamily, so they’re not scrambling deal by deal.Interesting to see how these same principles apply whether it’s flips in Texas or apartments in Hawaii.Quick question: do your project managers just keep eyes on site, or do you give them budget/schedule authority too?

I then have to explain they are buying the dirt with location for value long term overall value.

I would look to acquire as much as possible so long as the property cash flows after you leave and it reduces your housing expense.