No issues and tenants are renewing.That indicates tenants were paying below market rates.If the market rate for a 2-bed/1-bath apartment is $1,000 without utilities included, then he should adjust his rate to $1,100 because it includes $100 in utility cost.

I have been digging into off market deals and it has been promising.

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The good ones will have access to off-market deals. 

@Steve K.The Columbus real estate market remains strong, with steady appreciation, population growth, and a strong rental demand driven by major employers and new developments.

-why not pick a market closer to home? 

Get it under agreement for less than asking price and offer to bring the loan current and have them carry that loan.The way I see it is they are just getting MLS properties under agreement - the last five I looked at had been sitting on the market for more than 150 days (overpriced) because the payoff of the loan would not be satisfied at lower price point. 

In fact, just finished one that I have yet to put on the market. 

How do you go about determining market rate?

The issue I see is that market has historical appreciation below average (not bad, but slightly poor).