Bremner..I think we have some common characteristics :) When you found your first property- I'm sure you used the 70% Rule to analyze the deal- right? 

If this is your first time investing in Cincinnati, it is a unique area with a lot of different submarkets with unique characteristics that may not be true of other cities.

These 2 tenant bases will have different characteristics, expectations as far as amenities, etc. 

Same story for the cap rate, this varies market-to-market and depends wholly on the building characteristics and credit of the tenant.

However I contend that is not characteristic of the general investor - the majority get marginal deals.

Mopping, spilt water, pet pee will all result in unsightly swelling at seams that does not go away.

I like to say that the reality when it comes to Cash flow, the Characteristics of Cash Flow is NOT ABOUT THE INVESTMENT.... it's about the INVESTOR.If I buy a property ALL Cash... then yes, it will cash flow.If I buy a property with 100% financing, then NO, it will NOT cash flow.So the characteristics of Cash Flow is really not on the Property.

If you look at the recent historical trends it's not hard to identify which markets are 'growth' and which are 'cash flow' type markets, and there are some that show characteristics of both. 

Here are some funny borrower/property characteristics that we have seen this year:1.

Some maps show that West Hill doesn't exist, but the characteristics of that neighborhood, whether it was combined with Highland Square or not, still remain.So, if the property falls into one of those neighborhoods, you may have room for a rent increase; however, if it does not, You might be looking at 400-425.