The HOA basically kills it. 180/mo/unit, so you are looking at $21,600/year.

As you know, I sold 3/4 of my portfolio (thousands of units) right before the market tanked in 2022 and I haven't bought anything in over 3 years. 

@Joseph Beilke, @Michael Baum, @Mike Lambert, and @Ian Fortney, First off, I'd like to say that investing in the United States in general creates a better return than in Costa Rica.  

Quote from @Robyn Henderson: My family's 3 unit prewar building in Brooklyn recently had plumbing issues and I'm debating renovating each of the bathrooms.

We desperately need new homes being built.If SFRs are being built, they're slim 3-story units often under 1,800sqft and priced around $600k+.

. - Value add - How much does it cost to build additional storage units? 

The unit consists of two beds, one office and one bathroom.

I am considering building up on my fourplex. 2 additional units.

Most owners are local and therefore “hot” money or out of area players are not yet chasing Pittsburgh assets, keeping prices favorable.References United States Census Bureauhttp://www.cmu.edu/news/stories/archives/2017/august/economic-impact-report.htmlMarcus & Millichap 2017 Multifamily Investment Forecast2017 Commercial Real Estate Trends Report by Integra Realty Resourceshttp://www.pittsburghmagazine.com/Pittsburgh-Magazine/September-2017/Staying-CMU-All-Eyes-on-Carnegie-Mellons-Future/http://www.nextpittsburgh.com/features/pittsburgh-developments-watch-2017/

Better to let a unit go vacant than to get marginal tenants.