What kind of return would you want if their was a guaranteed monthly payment made from GOI so you arent waiting years for distributions but can have a monthly payments with lump sum at the end with refinance or sale?  

Wait a couple of months when interest rates are down and then get a new mortgage.

A few things about my criteria:Prefer minimal rehab - I’m not looking for a heavy value‑add project.Want a straightforward rental with solid demand and stable returns.Long‑term buy‑and‑hold strategy, not flipping.Open to SFR or small multifamily, depending on what my budget fits best.For those of you investing in Texas, I’d really appreciate your insight on:Which Texas markets currently offer the best rental fundamentals for a first‑time investorAny cities or neighborhoods you’d avoid due to taxes, regulations, or softening rentsTips for evaluating properties that don’t require major work but still cash‑flow reasonably wellThanks in advance for any guidance.

Small multifamily properties seem to be better than single-family rentals in places like Vegas, especially if they need minimal updates or have below-market rents.

I've also bought at 65% ARV and squeezed out minimal profit because I underestimated carry costs.For Middle TN right now I'm targeting 18-25% profit margin minimum on the deal waterfall, not just the spread.

Last year it grossed about $950k — not $1.5M — but we believe revenue can climb because: delivery/pickup was underbuilt (we’re using owner.com to rebuild the web/app funnel and improve online presentation),we’re using Uber drivers for a ~15-mile delivery radius,alcohol sales were only 1–3% previously because there wasn’t a real bar setup (and minimal visibility that alcohol was even a thing),the new location has a better guest experience + outdoor seating.  

Or is this basically a sign the deal is overpriced for today’s rate environment — and the correct move is wait, change market, or require better rent-to-price?

Side note you want to execute your plan to ensure you minimize the amount of months that you are paying back funds then move to a refi option if your purchasing or renovating to extract more cash then lower risk exposure with caring unlocked rates in a short timeframe.

If you’re underwriting conservatively (which you should be), a lot of listings simply won’t cash flow on minimal down payment in today’s rate environment.That doesn’t mean Florida is “too high” across the board.

This process allows me to buy a deal whenever it’s available versus having to wait 3-4 months to raise the minimum amount of cash reserves.