I want to believe you, because if you are right, then it is another tool in my tool box, and I will freely admit my current tool box is unfortunately rather slim and consists of Sears specials...  

It's not the 1960s anymore and the odds of the OP having issues because of her name are slim and none (and Slim just left town).

That's a real slim return and just one turn over will pretty much wipe out a whole year of profit. 3 years ago would be a different story when prices were skyrocketing and you had good appreciation gain, but appreciation rates have cooled a lot and will continue to do so in 2015.

We're here in Seattle and mostly invest locally- the Multifamily market is definitely competitive, and without factoring in value-adds cash flow will be slim on most properties if you use a non-owner occupied (aka rental property) loan. 

Usually I do an open house in summers but it's slim pickings and waiting for enough people to justify an open house is not feasible, it would take a month and they would find another place by then.The one room mate asked about an open house and I explained this to him.Now the other room mate (there are four of them) called me after I gave notice that there would be a tour tonight at 6 PM (2 days in advance) that he doesn't want me there, it's valentines day, etc.

Finding a cheap house like that in my immediate area that doesnt need alot of rehab is slim to none.

Except that there is no Rudy Giuliani as Mayor on the horizonIn conclusion, it seems the Ayes have it by a slim margin due to a booming economy - CA is a great place to be and hoping it will keep going up.For me it will be interesting to see how long the tech boom lasts. for example, lots of money being invested in self-driving start ups but not everybody is clamoring for self-driving cars.

Making 3% net net net on a transaction seems to me that would be pretty slim..

I suspect your chances of closing are slim so start looking for a credible lender who will do their due diligence on the property early in the game instead of just now figuring out that the property is rural.   

I am in San Diego and it is slim to none getting a good MF rental out here with good cashflow.