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. 

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+.

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/

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.

I am looking to purchase around a 150k unit.

Best part is NJ is not what its made out to be in terms of landlord friendly, the state gets portrayed as the entire state being bad when really most wacky laws are in the major cities and they apply to 5 units or more.  2-4 unit multi families fly below radar per say. 

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

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

I would caution you not to necessarily expect your NOI to be higher because you achieve higher rents leasing units to Section 8 tenants.

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