My personal favorite is the rationale "I will earny XYZ monthly off each unit and once I get to XYZ units I can quit my W2". 

I used to want to buy and hold but I've recently rented out one of my most favorite homes (yes, I got emotional about it) and did not like the experience of being a landlord.

Same with flooring/paint - stuff where the color/material matters essentially. 

These areas still offer:Affordable entry points (often under $150K)Strong rent-to-price ratiosLandlord-friendly lawsReliable property management teamsCities like Indianapolis, Birmingham, Cleveland, and Memphis are investor favorites for a reason.

I was lucky enough to find a property just a few blocks from my TK purchase that was in excellent condition, fully tenanted with two units, passed the inspection with flying colors and is grossing close to the 2% rule.

In fact, it’s actually one of our favorite investing strategies.

I just think they're seeing the house with rose colored glasses because it's been in their family for so long.I'm estimating $120k-$160k in renovations for medium grade finishes and keep it a SFH, so I'm thinking I'd offer around 190k and with that mortgage it probably wouldn't cash flow as a rental, so we'd probably live there and rent ours out (potentially as a mid-term) since our mortgage is pretty low.Another option is trying to work with a hard money lender, stay in our house, and either:- Spend more on rehab to turn theirs into a duplex (2 br/1 bath each). 

Purchase price: $93,500 Cash invested: $50,000 We’re excited to share one of our favorite flips in progress here in the Lubbock Cooper area.

@Chris Howell - There are several books on this topic, but two of my more favorite ones are Raising Private Capital by Matt Faircloth and Raising Capital For Real Estate by Hunter Thompson.

I manage 31 units myself and only occasionally take along my favorite contractor if I’m serving eviction paperwork.