Some might not be livable at purchase but 5k still seems cheap unless there is something off with the data. maybe the prices were reduced on unlivable properties due to back taxes being part of the deal for the purchase.

They can't assess all the subjective data like overall layout, view from the living room window, the dogs next door that bark all day, the width of doorways, size of individual rooms, quality of kitchen cabinets and appliances, etc.The best thing to do is study your market regularly.

I'm looking at expanding into out of state and just trying to figure out what questions I should ask/data I should gather to make an informed decision!

And in terms of appreciation, according to Zillow data over a 8 year span, its been about the same for almost every market.  

Older properties can be picked up for < 50% of ARV and go up in value in rapid ways with urban renewal efforts … I’ve seen this happen time and time again and so it’s worth saying, diversification is ideal.

To defer all of your gain, you'll want to trade up in value, replace all the debt (meaning new properties have at least $350,700 of debt), and not take any cash from the exchange (this is boot which = taxable gain).As for replacement property, it just has to be real property - meaning it can be commercial, STR, land, etc!

However I don’t have any real data just a personal opinion.What’s your thoughts?

I used All the Rooms to get some general data.

Hi @Nicholas L. and @Chris Seveney a few weeks after my post, they did a part 2 for the survey and 2 days ago, the Zoning Dept. emailed out an update for the proposed policies.Here's their message:"We want to keep you informed and share a preview of the proposed Short-Term Residential Rental Ordinance regulations and express our gratitude for your invaluable feedback and participation in Phase I and Phase II of the Alexandria Short-Term Residential Rental Study.

>if a property that makes ample cash-flow drops in value you are still able to use that cash-flow to support yourself.