This is much much much faster and requires far less equity than if you compared that to say traditional single family rentals. 

Days on Market (DOM) since Q3 of last year.Single-family residence values continue rising and are selling for nearly 9% more than last year - National average for home sale price increases is 4% since last year per one of BP's most recent podcasts.Multifamily properties in Queens have sold for a median price nearly 6% above last year, jumping from $1,058,000 in Q3 '24 to $1,120,000 in 2024.Lastly, despite inventory increases, the # of sold properties has declined when compared to last year.

Compared to other parts of the country, in my opinion it's definitely more challenging to find good deals here based on everything you mentioned. 

How does this compare?

In addition, just because rents spike doesn't mean your tenant received a comparable bump in pay.

COCR is good compared to my original investment on all of them and rents have steadily been increased but If I do a ROE calc, it’s really only around 3.5-4% on average.

The level of fixed costs to operate has gotten so strong, while demand has diminished and is a fraction(depending upon what business) compared to 21-22.

It is slightly underrated compared to some of the others you hear about constantly. 

What does it mean when I see a mortgage and debt balance and public record balance compared to estimated value??????

You're also comparing the mountainous region of North Carolina with an oceanfront region of Florida rather than something a little more intellectually honest such as the saltwater marsh and lowland regions of North Carolina on the Atlantic ocean.