The markets offer low to medium gross yields that max out around 7% if you buy in todays market.

These areas not only offer reasonable purchase prices for most investors but also feature turnkey homes—either newly built or fully renovated, ready for tenants, with systems that still have 10+ years of life remaining, and property management teams in place.

looking to make an offer

I'm planning to put in my first offer on my first rental on a SFH in Kansas City in the next day or two.$140k offer8% interest rate20% down8% management fee5% vacancy5% maintenance 5% cap exI haven't gotten insurance costs yet but it's been suggested that I plan for $2k per year. 

A successful rental property should offer positive cash flow, meaning your rental income should exceed your monthly expenses (mortgage, taxes, insurance, maintenance, etc.).To find the right tenants, ensure the property is priced competitively within the local rental market.

Looking forward to hearing what your market has to offer. 

The owners of 100+ unit complexes are not individuals who will be swayed to sell by a good offer or the need to cut short term losses.

You can offer whatever you think is appropriate and message the seller with your reasoning.

I figured this could possibly put me in a good position for a cash-out refinance when I’m ready to move on to a second property.If I stick within my budget, Philadelphia seems to offer the most housing availability, but I’m concerned about most houses available being in rougher neighborhoods.

I believe the price points of the apartment units will dictate appliance specs/packages but appliances are something I always upgrade over those offering competing units.