I'm looking locally to start out (mid size city in North Carolina) - is the answer a different market?

Still expensive though.And why would you want to invest in a city with rent control?

@Godsheritage Adeoye And for anyone else considering this... in Baltimore City you need a current lien certificate to record a deed.

You might need a 2nd well if you're not on city water. 

It's a small city for sure.

You might also want to double-check if having a local property manager satisfies the city’s requirements or if the operator still needs to meet the residency rule.Good luck with your Airbnb arbitrage—Cincinnati can be a great market! 

I actually interned for a company in Iowa City that did real estate, property management, new home construction and development.

People still wanting to move out of the city.  

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Fundamentals change neighborhood to neighborhood (i.e. appreciation potential), inventory/absorption issues may exist, rogue city council members and/or registered community organizations can make neighborhoods less appealing with little oversight which impacts value and marketability.