In general, you will find that cap rates are way too low anywhere in this area (unlike Syracuse).

there are approx 40-50 homes in the subdivision (the developer went broke) out of a poss. 125 ish home sites.The homes i am looking at were orig. sold for approx low $400s - however these same homes are now selling for approx $380 as a foreclosed property.

I get sent alot of stuff like that from various websites that state low ARV's but how do I really know if the info is true?

I'm sure you know about the new Lowes/Walmart in the Green Co.

Their portfolio product has low closing costs, too, but required one year seasoning.

The possible red flags are a) why wasn't he able to sell it for 199k when most sales are in the low to mid 200s in the area; b) why doesn't he just list it again at a lower price; c) what is he not telling me about his situation given that he's behind on his 2nd, which is a small amount?

I place more blame on NAR for keeping the bar so low and not making education more of a priority.At the end of the day, most folks simply "play" Realtor and got into the business thinking that it was easy money.

investers and especially the buyers want properties in good safe places, like close to schools, parks, sports areas ect... places with low crime rates in up kept areas.

If I do any more low-income rehabs I'll be getting my concealed carry permit.

Hopefully the traffic is low cost or free.