How do you go about determining market rate?

I don't know how much you have but a build to rent triplex all in our market is 150k liquid normally with full return of capital in 9 months.

In many markets section 8 is higher than market rate. and investors need that extra return to mitigate the risk of sec 8 tenants generally speaking.

Before getting started, I’d recommend focusing on three key areas:Strategy Selection – Understand the different investment strategies (BRRRR, short-term rentals, etc.) and determine which aligns best with your goals.Market Research – Study the market you want to invest in, including property values, rental demand, and economic trends.Laying the Foundation – Take proactive steps now that will set you up for success later.

While Colorado's market can be challenging due to high prices, exploring suburbs like Colorado Springs or Pueblo, or even considering out-of-state markets in the Midwest or Southeast, can open up better cash flow opportunities.

Hey GaryI manage about 65 units in FL and I broker for STR buyers in this market, and some do self manage.Obviously the ones who choose us for management, we can assist with all of those items, but the ones who self manage do so by building a team. 

Educate yourself on how to handle marketing, screening, late rent, lease violations, etc.

We bought a 55-unit last year in the same market, a market we've been investing in for seven years.How we found itOur property manager brought us this opportunity (and the three previous as well).

There are plenty of older homes on the market that do not have closets.You need 2 egresses (including 1 that goes outside) such as a door or window, size about 70sqft (local codes may differ), ceilings at least 7ft high, and it cannot be a walk-through passage.As always, your local codes may be different.

Great point about different states and markets having different laws about using evictions as a reason for denial!