I'd underwrite the property, with that low interest rate assumable mortgage, to cash flow positively from day 1 as a long-term rental, but be willing and able to use the rent by the room strategy or to rent out part of the property as a Short Term Rental to dramatically increase cash flow during my occupancy. 

Strong rental demand: With major employers like the Cleveland Clinic and University Hospitals, along with a growing arts and culture scene, Cleveland attracts a steady stream of renters.Revitalization efforts: Many areas of Cleveland are experiencing significant revitalization, which can lead to increased property values and appreciation potential.I can't comment on the Detroit market specifically, I have never been and have never done any research on it!

I like the cash flow and see the potential for increasing rents, but I’m hesitant about overpaying.

RAD’s real estate holdings nationwide were worth some $24 million as of last fall, the company has reported.According to one of the 81 ads for RAD running earlier this week on Facebook and its sibling social-media sites, RAD shares surged from $14.23 in January 2021 to $18.52 in January 2022, an increase of 30%.

With the COVID-era surge in home prices, rapid increases in mortgage rates, and rents not keeping pace, it really has gotten harder to make these deals work.

Rent Growth: Annual rent growth of 6-8% due to limited housing supply and increased demand.Key Market Highlights Economic Growth: Huntsville was ranked as the #1 Best Place to Live in the U.S. (2022-2023) by U.S.

Based on that, do you anticipate increasing or decreasing your investments?

We decided to do a full rehab to get nearly double the rent ($2900)and increase the ARV to $260k.  

At annual rent increases, I do scour Zillow for market rents in the area, which I share with my tenants.

The neighborhood has seen a lot of revitalization in recent years, with an increasing demand for both residential and rental properties.