The environment now with higher interest rates and higher purchase price does make it more difficult but definitely doable. 

**Maintenance**: Be prepared for a bit more wear and tear compared to market-rate rentals.

The reality is that with the super low inventory we have sellers don't have a reason to give you a 50% discount, so your numbers get squeezed and you will end up leaving cash in the deal.

 @Jessica Frisk I would not be keen on the 15-yr fixed rate mortgage if that makes you cash flow negative.

I have a condo in Connecticut that generates a cash flow of about $750 a month, and I have approximately $130,000 in equity at a 3.25% interest rate.

Charge the tenants a higher rent rate and include utilities with their rent.

Overall nationwide cap rates are rising because of interest rate increases.

For your $2M property, a cost segregation study estimates $316K in first-year depreciation (compared to $28K with standard straight-line), potentially saving ~$117K in taxes at a 37% rate.

Since you are new to the market, you can look at what the top rent pulls look like and cater accordingly on the design.You always want to build relationships with contractors, but that takes time and you always need a solid bench, just like in basketball because some days your starting plumber just doesn't show up and you need to bring in the backup.The rates are the rates and they aren't going way down soon so it's just part of a different metric to evaluate in your new market.Good luck!

You only want to file a claim if it's much greater than deductible or your rates shoot up pretty quickly.