The higher the cap rate, though, traditionally you will face greater risk.If I were you, and I was at one time, I would concentrate on pre-tax cash flow.  

Hey Hoa,You're going to have to qualify for a conventional loan for these, so beware the investor concentration or the percentage of ownership by one person or entity may make these condos non-warrantable. 

Most BiggerPockets investors I know are tracking a subset of properties, concentrating on barometers like days on market and price reductions, and keeping their “powder dry” as they wait to strike.Whether to pick up short-term rentals or long-term rentals, investor interest is growing as prices decline.

Jose, Why concentrate in what you don't have. 

Over the past few months, I have been looking at properties across MA and now have concentrated my research in both Worcester and Fall River areas. 

If it were me, I would concentrate first on whatever rehab you need to do, if any, to get the property up to full occupancy.

The areas that do have meaningful inventories of homes at the 20k price point are going to fall into the worst areas in Akron.The graphic below shows what I mean.Areas shaded darker have higher concentrations of 20k properties. 

So when I decide on an area to concentrate on I first visit Netronline.com this will give you phone numbers and links to assesment websites.

The lack of offers is a bit concerning, but that is probably due to the fact that it is a single tenant property so there is less room for forced appreciation and more concentrated risk. 

In my retirement I am concentrating on making Daily Cash Flow and not Creating Wealth with Buy and Hold rental properties.