In short consider the amount of hotels/STRs/major attractions near you.

Low end MFH is overpriced for the current rent amounts. 

My team works with a good amount of OOS investors and over the years a pattern has emerged.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Hi Joshua, the amount of down payment also changes with the cost of the property, so starting with a less expensive property may be smart (for multiple reasons).

The cost of entry is a bit higher compared to Detroit or Alabama, but the fact that you are grooving is awesome.I would add to talk with your family to discuss the amount of leverage you are comfortable with as you start talking to these new HMLs.

Perhaps there is an opportunity for us to work together.Thanks again for responding.If you're looking locally, I'd focus on markets with a decent amount of activity/inventory so that you have more options i.e.

Baselane has been a game-changer for me, saving a significant amount of time compared to manually tracking everything in Google Sheets.

A mentor of mine told me that I was charging too little for the amount of value I was providing.

There are a good amount of investors on here who could take down (including myself) a portfolio of rentals