You need to both build up cash and also a career.2.  

Would love to hear your thoughts on this.https://finance.yahoo.com/news/blocked-wall-street-homebuyer...

I removed the chimney entirely and installed a full HVAC system, making it the only house on the block with modern heating and cooling.

So, an 8 unit building with all 1 bed/1 bath could be 1/2 LT tenants and 1/2 MTR for travel nurses.

I’ll still try to answer the question: Pros of Kansas City for buy and hold small multifamily rentals:  Hybrid market so you get some cash flow and some appreciation (con if you want only cash flow or only want appreciation) Inventory of 2, 4, and 5-50 MF buildings (not true of a lot of markets that only have SFH and very large complexes 100+ units)Relatively low property taxes, although check for the city and state you are in (e.g.

@Ryan Rubel There are certainly quite a few restrictions in those two areas, in Carlsbad you have to be within the coastal Zone...I have a multifamily in Carlsbad Village a block outside of the coastal zone so I'm unable to operate it as an STR unfortunately.

@Robert Quiroz I think all of the factors you have listed might contribute.So I’m not going to comment on that but I am going to comment on an assumption you made.If 85% of rents are below market on deals you underwrite then those contract rents are probably THE market rent.You can’t just go based upon area median income to rent ratio.First off urban areas are oftentimes street by street, block by block.

We have zip codes that have lower and and higher end areas within the same zip so not a good marker to use.Going along with that a lot of the neighborhoods are very street by street or change pretty quickly by block, so you have to be aware of that.

Building codes change and labor and materials go up.

You could argue that they are using the tour to scope out the building.