More of a general trend, when we started we asked the same question. how low can I get it?

But on 100 year old homes in low value neighborhoods capex often exceeds cash flow over time.

It is still a low income area that is up and coming and is becoming more desirable for it's proximity to the aforementioned areas.  

It has shown nice equity growth although the cash flow is relatively low.

They may be high and they may be low. 

Population growth creates increased demand for housing, pushing rents higher.Rapid and Sustained Appreciation: In cities with abundant, low-cost land, new construction is often preferred over existing properties, limiting appreciation potential.

Not sure how one would make money on this. they are following the buy high sell low concept of investing. !!

Of course if we refinance our DSCR loans we will have a 5% PPP which is not a fun pill to swallow but for some properties with a low LTVs, we're open to it.We need a loan product that is asset based.

We saw this area is a suburb to a major city has good connectivity to a major company hub, low crime and a serene place.

Because my DIT is low, maybe Case 2 for fourplex is my preferred loan type than Case 1 if I want to invest locally.