Make sure you check out Clarksville, TN as well - we've got a great balance of cash flow and appreciation and are in a fundamentally strong and growing market. 

several recent rulings on sec 1250 and 1245 have clarified that cost segregated depreciation of non-1250 property and accelerated depreciation taken thanks to the JCTA of 2017 are also able to be fundamentally carried forward in a 1031 exchange. 

It all sounds good in theory but I’m either not understanding the fundamentals or I’m not familiar with my “refinancing out” options.  

Feel free to DM and we can see if you’d be a good fit the market I work and if not, at least I can give you a few pointers as far as STR fundamentals and a couple resources for cost segregation.

Sorry for taking so long, but I've been having my own growing pains.One of the things we're not really looking closely at is the hyperlocality of Pittsburgh, a fundamental understanding of the unusual nature of this place and how, through insularity and other factors, it tends to punish long-distance investors.

So, I believe some of the fundamentals of larger multifamily (increasing NOI via increasing revenues or decreasing expenses) are beneficial to smaller multifamily although the ultimate value is not determine by NOI, but by comps. 

Historically, the standard fundamental was that your going-in cap rate should be higher than LONG TERM, FIXED rate interest.  

You will go so much further if you get your fundamentals nailed!

It seems that some of the comments on this thread miss the fundamentals of Tangible Property Regulations.

I believe you will consistently see amongst those who respond lower eviction rates by investors who focus on the underlying fundamentals of real estate and acquire their properties in A & B neighborhoods.