I have several CFO clients that do similar heavy rehab projects in the Midwest (albeit with a lower purchase price), so you can definitely make the numbers work. 

I'm also considering Halethorpe because it's a good commuter location.Some people really like supporting the city in which case , northeast Baltimore would seem to the best place to buy a single family, in my opinion given the taxes situation and given that none of those areas are walkable I’d rather just be in the county and pay Lower taxes, and it’s not like northeast Baltimore is much that much cheaper than Baltimore county, hathorpe is mixed, arbutus is nice, I hate the housing stock there, would rather be in Catonsville if I was considering western Baltimore county. 

So, the actual increase to market rent will be much lower.

., Smyrna, Decatur, Marietta), new construction or turnkey rentals for lower maintenance, or small multifamily properties for stability.

In lower-value areas like Sylmar, market values max out around $3.28 million, which results in a loss.The key takeaway?

Property managers have established vendor relationships and can handle issues quickly.Cons of Hiring a Property Manager❌ Lower Profit Margins – Management fees (typically 8-12% of monthly rent) eat into your cash flow, which can be a dealbreaker if your margins are tight.❌ Less Control Over Tenants & Maintenance – You won’t be as involved in selecting tenants or overseeing repairs, which might lead to decisions you wouldn’t have made yourself.❌ Not All Property Managers Are Great – A bad property manager can neglect your property, overcharge for repairs, or poorly handle tenant relations, leading to unnecessary headaches.Which Option Is Right for You?

It will give you a lower interest rate on both properties because you bought them as owner occupants, and it will require less down payment to get into. 

And talking with my leasing team, the properties that are moving quicker are on the lower end of the rental range $1450-1600.

They do not appreciate like actual real estate and your caliber of tenant can be lower which can bring with it its own problems. 

It's OK to be more tenacious with negotiating down, and make the most out of a slowing market to buy at lower prices.