But statistically, two of you will bring me a deal, and I make an average of $40,000 per deal.

That is statistically of course, so there are exceptions.

Markets which would make you really wealthy.But the IRR will help you evaluate in ANY Market.If I were to calculate the percentage of people in my circle of friends and family that DID NOT invest with me in the 21 years I have been investing in NYC, it reaches the same statistics, 95% did not invest.

To answer your original question, the median price changes based on your statistical area. 

While apartment Associations might have good statistics, small landlords just aren't organized enough to come up with a number. 

I'll add just a couple things to look for/ask about:Ask for data (like statistical data) on everything from vacancy and maintenance costs to average length of stay, average move out costs, eviction rates etc.As someone else mentioned, run your own numbers!

Statistically speaking, more than 80% of your deals will come at or beyond the 5th mailing. 

I'm currently finding what seems like potential cities to invest in, finding basis statistics such as population growth, crime rates, vacancy rates, avg prices, etc. and comparing it in excel. 

Look at the statistics for the area. 

I can tell you statistically speaking your odds are much greater if you get a college degree in a decent paying field.Study computer science, engineering, accounting, finance etc.