Buying with private money and increasing the value by rehabbing and renting the property then BRRRR does a few things.  

𝐅𝐥𝐨𝐫𝐢𝐝𝐚 𝐋𝐞𝐚𝐝𝐬 𝐭𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐅𝐑 𝐕𝐚𝐜𝐚𝐧𝐜𝐢𝐞𝐬The newest numbers show a clear trend: Florida’s rental markets are under real stress.𝐒𝐢𝐱 𝐨𝐟 𝐭𝐡𝐞 𝐭𝐨𝐩 𝐭𝐞𝐧 𝐡𝐢𝐠𝐡𝐞𝐬𝐭-𝐯𝐚𝐜𝐚𝐧𝐜𝐲 𝐦𝐞𝐭𝐫𝐨𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐮𝐧𝐭𝐫𝐲 𝐚𝐫𝐞 𝐢𝐧 𝐅𝐥𝐨𝐫𝐢𝐝𝐚:Punta Gorda, 5.07%Cape Coral–Fort Myers, 5.06%Homosassa Springs, 4.66%North Port–Sarasota–Bradenton, 4.29%Naples–Marco Island, 4.29%Jacksonville, 4.11%Homes that historically rented quickly are now sitting vacant 2–3x longer than normal.That’s a structural signal, not a seasonal blip.𝐀𝐧𝐝 𝐈𝐭’𝐬 𝐍𝐨𝐭 𝐉𝐮𝐬𝐭 𝐅𝐥𝐨𝐫𝐢𝐝𝐚.

Noticing a pattern lately:Some properties that look overpriced at first actually make more sense after adjusting for realistic rents and PM costs in this area.Examples:• 3-bed units renting faster than 2-beds• C-class neighborhoods showing surprisingly low vacancy• Light value-add increasing rent by $150–$200 with minimal workAnybody else seeing similar patterns in their underwriting?

You paint, you clean, you tighten up the units, you turn over one or two apartments if the opportunity presents itself, increase the rents. and you slowly force appreciation. 

I know a lot of people ask about rent comps, so here’s what I’m seeing right now for 2–4 unit properties:1 bed units: $850–$1,0502 bed units: $1,050–$1,3003 bed units: $1,350–$1,650If anyone needs rent estimates for a specific property or neighborhood, drop the address or message me — happy to help run numbers.Hope this helps some of you looking at the NC market.— Shakur

As an investor, I would pay the HOA personally and have the rent increased. 

Unless your rental income increases faster than inflation, you will not have the needed dollars to pay inflated prices.For example, suppose you invest in a city where the average rental income increases by 2% per year and inflation averages 5% a year over the next 30 years, which is your anticipated retirement period.

Otherwise, they will abuse the relationship when they face a financial challenge.Tenants never want an increase in their rent, but winter might be a good time to increase rent as there is typically less inventory on the market and who wants to move during the Holidays?

But after 5 or 6 years, these “base hits” seem to produce pretty good with rent increases as appreciation and inflation keeps going up.

You may not get the feedback you want to hear, but you will get brutal feedback you might need to hear.I just rented one in NRH last month.