A vacant, 1950s-era, multi-building gut rehab is closer to a development deal than a traditional value-add.In situations like this, I have found it helpful to work backward from stabilized value and then explicitly account for three things before arriving at a purchase price: total hard and soft costs, a realistic contingency, and a clear profit buffer for time, coordination, and risk.

What's going on @David Hanson - If you have a degree in finance and real estate...and it sounds like you are a go-getter, then I highly suggest looking into some Chicago commercial real estate brokerages.Other options would be some larger property managers or developers.  

Hey Jamison, if it were me right now I’d lean toward a cash-flowing property in a market that produces strong monthly income, especially if you’re looking for stability and steady returns early on, because cash flow gives you flexibility and a buffer while you build your portfolio; a market like Columbus, Ohio is a perfect example—since I moved from Portland, Oregon in 2020 and now own 10+ rentals here, I’ve seen firsthand how you can still find properties in the $120K–180K range that hit the 1% rule, cash flow from day one, and still have amazing appreciation potential thanks to the massive population growth, job growth, and major companies like Intel, Amazon, Google, Facebook, Microsoft, Honda, and LG moving in and developing here, so you’re not just getting monthly income but long-term equity upside too, making it a solid mix of security and growth for a strategy focused on building wealth over time.

I saw this one and acted quick and would like to see how other view it.Cost: $345000Location: East missoulaDuplex (separated houses) 3bed 1 ba, 2bed 2baSeparately metered.2007 build (2/2) & 1920 build (3/1) (07 remodel)3/1 market rents are $1200 +/- 120 (currently)2/2 market rents are $1100 +/- $110 (currently)I will be living in the 2/2 for ~ 1yr (househack)VA loan used, 30 yr, ~3%PITI is around $1800/moOperating costs living there ~ $250/moOperating costs moved out ~ $500/moRents will go up in the coming years and this deal is located next to an area of rapid development and gentrification.Any input is appreciated and thanks for your time!!

I’ve been in property management long enough to develop a very specific sixth sense.Not danger.

I’d look to buy a value add SFH in a developing but good neighborhood instead - the areas I do are not necessarily the only options.

The bulk of our clients are international investors, and we've developed our process to adhere to that.

Simple: it’s called scaling a business model — the same way real estate syndicators raise capital, developers bring in JV partners, or educators expand their reach.

I am in land development on the east coast of Florida.

On top of that, the appreciation potential has been huge because of how much development is happening across the city, and Ohio is very landlord friendly, which makes it easier for out-of-state investors to manage risk.