I have an opportunity to pull down a 48-unit complex, A/B+ area in tier 2 MSA. What's the minimum Cash on Cash you would accept?

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@WM: SF means single family in real estate... not SF

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Care to elaborate how you managed to acquire three properties in Bay Area and have time to manage them? Sounds like quite the success story that others can learn from

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I’d say 12% then if property is also an B+; 10% it A-

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Yes, I wish in SF, but did mean single family homes. They are in IL.

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Thanks for the clarification OP. Still impressive. Unf I can’t find anything to invest in under half a mill

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@wm - don't give up, there are always deals around, but we're in a hot market virtually everywhere, so be patient. I've been doing this for in the side for over 8 years

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Suggestions on other cities where investing is worth considering?

Depends on if its your first property or not

It'll be our fourth, other 3 are SF rentals that we manage. These apts would go to a local property manager

In tho climate in a good area id take 7% minimum

For the 48 unit: Rockford?

What is MSA? Where do you get area rankings?

Metropolitan statistical area, in my post I was using that as shorthand to imply I'm not in a major city. Google it, and you can get lists

Where in IL? The location dictates the return you need.

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