When evaluating markets for rental properties, there are a lot of factors to consider: population growth, employment rates, rent to price ratio/GRM/Cap Rate, rent trends, vacancy rates, etc. 

My suggestion is to find some real estate industry surveys (via CBRE or others) and look for the MF cap rates in various cities/states/regions.

You get a Capitalization Rate (CAP Rate), which equals your annualized return by dividing the Net Operating Income (you had gross in your narrative) by the purchase price.

Moved July 31 2023Renters lease expires 2/2025Must have lived 2 of last 5 to avoid cap gains if sold.I’d rather not sign a new lease and go month to month but they’ll push for it.

Safe to say that many punters who invested in low cap rate syndication deals, especially during the peak of the hype, are getting schlonged right now. 

Please let me know if you know areas that would fall in the cap of our budget.

That is what I meant, get the best bang for your buck. 

LC already had a tight inventory due to an instituted CAP.

Also, ensure you're compliant with New York's security deposit laws, which cap deposits at one month's rent.

What cap rate is the selling asking?