I am based in Edmonton, Alberta.

And if you base an offer price on that, you'll likely have an extremely difficult time getting any traction. 

Based on the data I saw from ABOR the median price YoY (2023 to 2024) was slightly up (around 2%) and the rent was flat to slightly down.

I mainly want to ask if these assumptions are reasonable and if there's anything I haven't considered:(1) multifamily units in NJ close to New York City, ~$1,000,000, 20% down payment, (2) Using the following assumptions: 4% appreciation rate, 6.5% interest rate and 5.0% refinance after 5 years, $10,000 yearly maintenance fee(3) ~$6,000 monthly rental and assume 3% increase yearly with 5% vacancy rate(4) Based on the above, the calculated IRR if selling at the 10th year is ~19% (considering tax benefits) and ~17% (without tax benefits).

On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

They're coincidentally based in Boston, too.Good luck!

I think you'll just generally have less competition, so your chances of landing a property are higher, but I'm not seeing any bargains due to seasonality like there used to be.

Typically, the tax is based on the assessed fair market value of the property at the time of the transfer, even if it’s not a traditional sale.

This is anecdotal information based upon the interviews I’ve had with operators across the country.

Real estate is not my of my knowledge base at all but I want to start working on building passive income now (I’m 44).