I was thinking of offering the first three months at 10% just to build a lasting relationship and gain trust and then after bump up to 15-20%.

Inventory at 4.2 mo supply means faster sales but tighter margins.​News highlights: NAR reports 28% of flips now "light rehab" (under $50k) vs full guts; 65% targeting 20%+ ROI pre-holding costs.​Discussion:Adjusting MAO formulas for $10k+ tariff bumps?

I’m looking for some honest feedback from experienced investors here.I recently analyzed a multifamily deal in California and wanted to share the numbers because it really highlights how challenging cash flow has become here, and why we are focusing on out-of-state markets.32 unitsPurchase price: ~$9.5MCap rate: ~5% (in-place)Avg rents slightly below market but not massively under-rentedLight value-add potential (nothing heavy)Financing: 70–75% LTVCommercial multifamily debt around ~5–6% range25-year amortizationDSCR target 1.25+Once debt service was added:Cash flow was basically neutral (or slightly negative early years)Cash-on-cash ended up far below my targetEven with conservative rent bumps, it didn’t reach my minimum return threshold.I kept asking myself, If cap rates are around 5% and debt is also around 5–6%… where is the cash flow supposed to come from?

It’s a pure appreciation play until rates drop or rents bump up.

You already rehabbed two single family rentals which tells me you can execute, but on apartments the value is driven by net operating income so small rent bumps matter more than buying cheap.

Otherwise, any small bumps in the process and you could have a break even or losing deal. 

If someone opens an email or clicks a text link and doesnt respond, thats a signal to bump them up the list for the next touch.

The most effective move has been locking in a detailed scope and price with the contractor and not changing finishes midstream unless it clearly bumps the sale price.

a few things to unpack1- You could easily get a 10% down loan if you're living in one of the units, but depending how much cash you have to put down and how much updating the property needs it may be more beneficial to put 5% down and use the remaining money to update the place and bump the value + fix any issues that may arise.

For anyone investing in the Charlotte area, the supply conversation isn’t theoretical anymore — it’s measurable.Over the past 18–24 months, the region has delivered a substantial amount of multifamily inventory, with thousands more units still under construction.Here’s a rough breakdown by submarket (rounded estimates based on recent delivery and pipeline data):South End / Uptown / Lower South End• ~6,000–8,000 units delivered since 2023• ~4,000+ still under constructionThis is where concessions are the most aggressive. 4–8 weeks free is common in Class A.University / North Charlotte• ~3,000–4,000 units delivered• ~2,000–3,000 underwayHeavy competition at the $1,300–$1,800 price point.Huntersville / North Mecklenburg• ~1,500–2,500 new multifamily units• Continued build-to-rent expansionWe’re also seeing entire townhome phases release at once, which directly impacts investor-owned SFR pricing.Kannapolis / Concord• ~1,000+ units delivered• Additional mid-density and mixed-use projects in pipelineValue-add investors are competing against brand new product more often than before.Fort Mill / Indian Land (SC side)• ~2,000–3,000 units delivered• Several thousand still in progressSC lease-up velocity has slowed compared to 2021–2022 peaks.Union County (Indian Trail / Wesley Chapel / Monroe pockets)• Growing build-to-rent presence• Multiple SFR communities delivering in clustersAnd this doesn’t include scattered new construction townhomes that hit the MLS in waves.What This Looks Like in Practice (Managing 500+ Doors)Rent growth has flattened.We are not seeing 8–12% annual bumps anymore.