The costs sound a little low to me if you are talking turn key including permits, site work, utilities, plans, surveys etc.

Quote from @Tamera McNeil: @Mike PaolucciI have considered out-of-state markets, including Tennessee, Texas, and Arizona.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

And make sure that whatever offer he is giving you, his commission is included in the sale price.

Investing in any city,  including Pittsburgh requires one to really know the area, the type of investment you want to buy and especially if remote having a knowledgeable and trustworthy team.

Additionally, his ugly, nasty, condescending behavior has been called out many times by many members (including me).

Understood there are other factors to account for including loan pay down, tax benefits, lower rent etc.

3) Fair Market Rent: S8 was originally designed for affordable housing, so included ALL utilities.

My Partners and I have been buying Brooklyn small multi's (2 to 4 Unit buildings) since 1998.We currently own 9 of these buildings in various neighborhoods including Clinton Hill, Bed-Stuy, Windsor Terrace and Ditmas Park.Total Assets would be somewhere between $15 and $20 Million in the portfolio.Every since we bought the first property, which was in Ditmas Park for $340k in 1998, everyone told me it was crazy.I continue to hear how crazy I am to continue to buy every one or two years since 1998.That $340k Property in Ditmas Park is worth $2 Million today.

Common concerns in pre-1940s buildings include outdated plumbing, old electrical systems, and structural issues that could be costly to bring up to modern standards.