To add to this.. fastest growing suburbs according to recent census says Wendell grew second fastest in entire state at 45% over last 3 years.

I said it was a huge mistake, but everyone told me they were in an excellent location and the numbers would work. 

Personally, I think the taxes are high and the services you get for your taxes low there.I know people that invest in Detroit but you must know the area down to the street and have excellent property management.However, I just talked to my CPA today about a referral he was sending me who is a client of his that has 30 rental properties in Detroit and selling them all because the City doesn't really help, charges for everything, and they never have given a security deposit back to a tenant after they stayed because of their behavior or lack of payment.

Yes, this totally makes sense, but I'd like an Excel modeler that has this available to play with.

Still looking for alternatives outside of an excel sheet.

For 5-9 units, you could get to the low 7's assuming the DSCR is excellent.

HI Adelaide, @Joseph Chiofalo has a RE broker he works with closely in the area he can refer you..also an excellent 5+ units lender.

This will usually be an excel sheet, or maybe something fancier, that will outline, item by item, everything that needs to be done, parsing out every item, labor, materials, etc. 

unless you have some kind of advantage, or creative strategy, or both (boots on the ground, sourcing quality off market deals, MTR or STR, house hacking, etc.) there is really no market where you can get a few hundred plus in cash flow with current off the shelf rates.you should 10000000000000000000% not buy a random property in Memphis because an Excel sheet tells you you will make $212 a month on it.if you want to go to Memphis and spend a few weeks there, drive around, meet PMs and other investors, and really lean in - go for it. 

@Sean Gallagher Here's an article that you may find useful for ways to offset W-2 income.https://www.journalofaccountancy.com/issues/2023/sep/passive...Excellent point!