Just as all properties are not option properties, not all properties are LASH property candidates. The LASH strategy works best on small mismanaged rental properties that:
1. Are located in stable, low-crime, moderate-income neighborhoods near large employers, military bases, schools, shopping centers, and healthcare facilities.
2. Have below-market rental rates that can be increased by at least $150 per rental unit once the property turnaround has been completed.
3. Have mismanagement problems that can be quickly and inexpensively corrected by implementing aggressive professional property management practices.
4. Are structurally sound and have deferred maintenance that can be quickly and inexpensively repaired.
5. Can be bought for at least 20 percent below market value on buyer-friendly terms with seller-financed mortgage or deed of trust loans.
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