Look at the multiple factors that influence your market to determine the price.

While the brokerage you choose definitely has a big impact on your business, the agents (investor friendly) that you surround yourself with within that brokerage are going to be a key factor.

Your turn time depends on many factors and you have to understand every owner is different which makes it challenging (some want a new bathroom, some only want reglaze of the tub, some cry about painting a unit that hasn't been painted in 8 years others want it all painted etc).

The regulatory environment is also a key factor for me as a first-time investor. 

To identify a "good" market, consider factors like rental yield, local job growth, and demographic trends.

The 10 Year treasury as I mentioned in my post is also another Key factor when dealing with the 30 Year Mortgage and its dropped.

Hey Steve, with a conventional loan that may be possible would depend on a few factors. 

The appealing aspect here is the ongoing population growth and other economic factors.

Expense ratios vary dramatically depending on project size, age and other factors, but basic rule of thumb is the smaller the project the higher the expense ratio's, using a 33% expense ratio for a small facility (less than 150 units) is optimistic, smaller facilities are probably closer to 40%.

And also, your student loan debt will have a payment factor in your debt ratios on the next home.