The market is somewhat competitive, with homes receiving multiple offers and selling quickly, but there are still good opportunities with strong cap rates and value-add potential.Advantages of investing in a Rochester multifamily property:1.

There are a couple opportunities thats on MLS currently, and I am crunching through my math and it seems to work out well (positive cash flow, decent cap rate).Some key assumptions I hope still holds true today:  low vacancy rate in general. ~1000-1200/month for a room in a single family house / duplex. 

As you move into your townhouse in Odenton and eventually aim for multifamily properties, you might want to start refining your metrics (like cash-on-cash return and cap rate) to compare performance across different property types.Looking forward to seeing how your portfolio evolves.

The properties themselves often have flaws and outstanding cap ex items that are wrongly ignored.  

Are there any caps on pass-through expenses?

Probably 9 out of 10 people who I know that have tried investing out of state have run into the same problems: turnovers costing too much, cap ex, tenant issues, management issues, etc. have erased anticipated cash flow and they have ended up losing money every month instead of making money, then sold after a few years.

Hi @Chris EhrhartThere are two prices in a negotiation, one is the offer counting multiple factors, mainly Cap rate and visible repairs when is a investment property.The other one is when you do an inspection.You listed 5 items here so I'll comment on each one:- Electric panels, this is likely to be found during inspection.

I'm open to properties were cap rate is around 10%+ and Return on Cash is 10%-20%. 

Did RE Cap Rates generally follow higher, along with the sky-high interest rates?

To maximize your investment, use financing options like FHA or conventional loans, analyze deals based on cash flow and cap rates, and network with local investors through REI meetups and BiggerPockets.Good luck!