Typically on market (retail) SFH rent is at ~0.5% rent to purchase price ratio. 

It can be used to monitor markets, filter results based on lots of different criteria & even includes annual revenue numbers that you can work backwards to see how certain markets/properties are performing.

Could anyone share advice or insights on the market here?

What markets are you interested in investing in, your target market?

In Arlington County, VA, the real estate market has seen notable changes from January 2024 to January 2025:Listings: The number of listings increased by 39, a 19.7% rise, from 198 to 237.Listed Median Price: The listed median price went up by $17,400, showing a 2.25% increase, from $772,500 to $789,900.Units Sold: The number of units sold increased by 2, a 1.59% increase, from 126 to 128.Sold Median Price: The sold median price decreased by $54,250, an 8.38% decrease, from $647,500 to $593,250.Summary: An increase in listings indicates a rise in supply year over year.

Are renovation bumps supported by the market?

Many should be happy on a stabilized market more then anything

What should be the number first step after picking a market?

Alaska and Hawaii are my two markets.

It wouldn't hurt to set up time to meet with agents, property managers, lenders, and others while you’re visiting your markets of interst.