But wanted to say that I highly recommend checking out REIA for Oh and/or Cincinnati and Dayton.

But in my opinion, the biggest issue I see with folks jumping into their first "big" multifamily deal is the quality of the pro forma. 

We have many efficincies under management with a ~10% vacancy rate with prices ranging from 485-625 depending on location property quality and amenities.

Respond within minutes to each one, as tenants often go with the first responsive option.Ensure you have high-quality photos that make your property stand out against the competition.

I also like contractors that have packets that allow you to pick out the stuff that you want to use for that project, which reduces the quality control process..

I am a co-host in Dallas and Waco, TX and I have an idea of what types of owners and properties I want in my co-host portfolio----and with each client/property I learn which qualities are working for my business setup or what qualities I need to be working on to upskill.

Focus on undervalued properties, prioritize high-ROI renovations, and refinance to pull equity for future deals while maintaining 20-25% equity.

@Kaleb JohnsonRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Ming HuangRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.