I am really appreciating that folks like you are sharing their experiences and train of thoughts, which helps me tremendously to better position ourselves at this market.None of us need to look at more of this other than $1.2m purchase price and 300k renovation with an ARV lower than price + cost, with no experience (other than your own reno which is good) and no real idea what you are doing.

While Pittsburgh offers lower entry prices and a more stable rental market, the appreciation potential doesn’t quite match that of Mesa or Gilbert, making it a more cash flow-oriented market rather than one driven by property appreciation.Why Mesa or Gilbert Might Be the Better BetBecause of leverage, that roughly $100K difference in appreciation is HUGE because I've had investors just putting 5% into the deal (so a 5x higher roi). 

I used to work in the area, not personally investing there, but I have helped handfuls of investors secure financing in Dutchess and Ulster counties, I do know it’s seeing some heightened interest from investors due to its proximity to the ever-expanding NYC and relatively lower property prices compared to alternative areas.

Or lower your price on a 6-month lease and then find a one-year tenant at market rate in the spring.

Then when property sells, you are subject to long-term capital gains, which is generally lower than the standard UBIT tax rates under the estate and trust tax schedule. 

If so it may be possible to get a better term, lower rate, owner occupied rehab loan rather than as an investor who would never live there.

If I was a cash or financed buyer I could pickup deals at lower offers I suspect but I refuse to go that route. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The property prices are lower compared to other markets, and the rental demand in certain neighborhoods can be pretty strong.Let me know if you need any more info or if you'd want to chat further about this!

If you own your washers and dryers you will probably make some decent money but get ready when something breaks and the tenants want it fixed right away.If you are priced lower than the local laundromat (which most are for some reason) your tenants not only have to carry all their stuff to the Laundromat but will have to spend more money and may want you to cover it.Also a Service Tech will probably charge $100 to show up plus parts.