Not sure about PA, but in NY if there are any lights in common areas the landlord needs a separate meter - you can just go count the meters on the house, if there are 5 then you know there is one for common areas.I wouldn’t use cap rates for a four unit, use comparable properties if possible.

Enter Comparables: Breaking into a new market within a city is hard enough.

Hello @Tiffany Makiya,Many investors compare properties using the ratio of annual rent to property price.

Once they fall off in a few units I’ll be cash flowing $500/unit which is great compared to the other properties I’ve analyzed recently in my market.

After a thorough market analysis, I reached out to the seller directly and negotiated a fair price based on comparable sales and the property's current condition, emphasizing my ability to close quickly.

How does your rent compare to market rents? 

After a thorough market analysis, I reached out to the seller directly and negotiated a fair price based on comparable sales and the property's current condition, emphasizing my ability to close quickly.

The cost of living in here is more affordable compared to other major metro areas.

For investors, this means the opportunity to acquire properties at lower entry points compared to other major tech hubs like Austin or San Francisco.

Wait. let me try to paint a picture for you.If you were blindfolded in the middle of a city and randomly picked people BLINDLY, you would have FAR MORE chance of getting a motivated seller compared to targeted lists.WHY?!