We have an opportunity coming up from a family member who is willing to sell us my childhood home for what they got it for (240k) and the comps in that neighborhood are 600k+.

this is a direct relation to lack of inventory.. new construction on many markets is as robust as its ever been.. we have had spectacular years the last 3 years of course during covid was tough with supply chains but my 500k house I am now selling for 700k and my build cost have gone up by maybe 100k.. so record profits for us.. 

You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!

Or do a cash out refi to scale up.

I'm a believer that there are deals to be had in any market.

Prices have increased (higher terms/rates) as the fed rate has gone up so you have seen people who could get 8 or 9% now in double digits.

No qualifying and the ability to use your money to purchase something else?

Every market will vary due to labor costs. 

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

I stared using this site PropJump.com to find services providers for my 3 properties I own and manage.