From those leverages it does look as if you are short of your reinvestment targets. 

If you are satisfied with the, IRR, CoC and multiple for your hold period with a 6% exit cap, and cap rates rise to 6%, you'll hit your targets and you'll be satisfied. 

You are a great target for turds in the bowl roses on paper properties.

I've owned in UC for the past 7 years and while I target the lower rent demographic (easier to fill vacancies and not as demanding with amenities), I've found the challenges of dealing with tenants to be more demanding that in those other towns.

I travel there every quarter.. and Invest in other markets I have targeted as well. so  I spend a good deal of time on the road.. flew 75k miles last year for instance. but I am not in the landlord business so much more going on with us...

You'll get a much better understanding of seller financed transactions and installment contracts, the conventional requirements are the target to be met in doing in any creative deal. 

In my opinion the rules of thumb are targets to shoot for.  

You're right in assuming I'm targeting my own zip codes.

Hello Experts,I read alot and tried to get into foreclosures(in my area in Iowa) but found that alot of time/work/money/risk involved for a little or sometime may be descent money (if you are lucky or can sell it on the prices you expected initially) ... but I am not sure all this work is worth for what you are getting..I am in in a process of planning future and deciding the best route for investment option, basic goal is to get a regular monthly return/income while i can keep working on my current full time job, i can invest in either buying a multifamily/apartment building having 25+ units or buy a hotel/motel or buy a land and construct a apartment building(not sure if constructing a building would be bettor of buy an existing one).My target area would be 1.

I target my reserves at a minimum 3 months rent.