LTRs with long term conventional financing and standard management aren't really cash flowing anywhere right now. sure, there are lower cost markets that look better on paper, but there are costs associated with those supposedly cheap markets as well - deferred maintenance, more challenging tenant base, higher cost turnovers as a percentage of the rent.2. i wouldn't pick a random market thousands of miles away based solely on statistics or numbers. 

Currently the building runs well, good tenants who are below market rent but there is harmony and dependable cash flow.

I'm hoping to learn from your mistakes as well as share mine.

You might even want to setup a C-Corp (for tax and liability reasons as well) to manage the business with the guests and pay rent to your LLC. 

My niche is the small amount of qualified Sending land that is also priced well below the value of the new credits that can be clipped off and resold for an arbitrage profit.

Pay attention to your weekly and monthly discounts as well. 

There are a lot of local meetups in Northern New Jersey that you can find in the Events and Meetups section of the forums as well.

Most everything I would nonrenew a tenant for would likely be known to me without trying to "screen" existing tenants before renewal. 

I’m in the process of getting my real estate salesperson license to gain access to MLS listings as well.

A friend of mine in Austin once negotiated a partial buy back option when the seller realized they might want back in if the market soared.. from what I read in Bloomberg, that approach can work well if both sides trust each other.If the tenants’ rent covers your carrying costs, that’s a nice cushion, but you still need to clarify that buy back clause.