It varies for me city by city here in south Florida.

I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?

I'll drive you down the streets of Lehigh acres where they build and show anyone the gap between market rents (real asking prices) and their pro formas 

An analysis of the data also shows that the city north of Austin grew 10.6% year-over-year, making it the fastest-growing city of at least 50,000 people.

Are you in the city or in a suburb, for example?

The city required the road to be extended a few feet, along with water and sewer.

The neighbor was the hottest in the twin cities and this house has 83 businesses cards of realtors who showed the property.

There are certainly value-added opportunities in the city.

@HaiderFord is also talking about the impact on Memphis.Here is an article Ford put out 12/24https://fordauthority.com/2024/12/ford-blueoval-city-set-to-...

I am moving from Kansas City Missouri.